Short Interest in Cardlytics Inc (NASDAQ:CDLX) Declines By 15.3%

Cardlytics Inc (NASDAQ:CDLX) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totalling 3,071,500 shares, a decline of 15.3% from the July 31st total of 3,627,100 shares. Based on an average trading volume of 359,400 shares, the short-interest ratio is currently 8.5 days. Approximately 19.0% of the company’s stock are short sold.

In other Cardlytics news, CEO Scott D. Grimes sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $23.76, for a total value of $95,040.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bryce Youngren sold 135,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $34.99, for a total value of $4,723,650.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,354,392 shares of company stock worth $72,349,708 over the last three months. 21.90% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. River & Mercantile Asset Management LLP bought a new position in Cardlytics during the 2nd quarter worth $1,063,000. Royal Bank of Canada grew its stake in Cardlytics by 166.5% during the 2nd quarter. Royal Bank of Canada now owns 10,643 shares of the company’s stock worth $276,000 after buying an additional 6,649 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Cardlytics during the 2nd quarter worth $277,000. Morgan Stanley grew its stake in Cardlytics by 760.1% during the 2nd quarter. Morgan Stanley now owns 13,177 shares of the company’s stock worth $342,000 after buying an additional 11,645 shares during the last quarter. Finally, UBS Oconnor LLC grew its stake in Cardlytics by 12.1% during the 2nd quarter. UBS Oconnor LLC now owns 344,354 shares of the company’s stock worth $8,946,000 after buying an additional 37,153 shares during the last quarter. Hedge funds and other institutional investors own 85.01% of the company’s stock.

CDLX traded down $1.98 during trading on Friday, reaching $35.49. 15,845 shares of the company were exchanged, compared to its average volume of 532,278. The stock has a market cap of $855.44 million, a P/E ratio of -16.37 and a beta of 1.55. The firm has a 50 day moving average of $32.99 and a 200 day moving average of $23.66. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.79. Cardlytics has a 52 week low of $9.80 and a 52 week high of $39.62.

Cardlytics (NASDAQ:CDLX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.23. The firm had revenue of $48.73 million during the quarter, compared to the consensus estimate of $43.77 million. Cardlytics had a negative return on equity of 66.01% and a negative net margin of 19.60%. The firm’s revenue was up 37.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.21) EPS. As a group, analysts forecast that Cardlytics will post -1.08 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. set a $43.00 target price on Cardlytics and gave the company a “buy” rating in a research report on Friday, August 9th. Bank of America reiterated a “buy” rating and issued a $32.00 price target (up from $22.00) on shares of Cardlytics in a report on Wednesday, July 24th. Raymond James boosted their price target on Cardlytics from $24.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Zacks Investment Research downgraded Cardlytics from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, ValuEngine downgraded Cardlytics from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $33.29.

Cardlytics Company Profile

Cardlytics, Inc operates a purchase intelligence platform in the United States and the United Kingdom. It operates in two segments, Cardlytics Direct and Other Platform Solutions. The company's platform is the Cardlytics Direct solution, a proprietary native bank advertising channel that enables marketers to reach consumers through their trusted and frequently visited online and mobile banking channels.

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