Fluent (NASDAQ:FLNT) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Fluent (NASDAQ:FLNT) from a strong sell rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Fluent Inc. provides data-driven performance marketing services. The company is the trusted acquisition partner for both established and growing brands. It creates marketing programs which deliver better digital advertising experiences for consumers and measurable results for advertisers. Fluent Inc., formerly known as COGINT INC, is headquartered in New York City. “

NASDAQ:FLNT opened at $1.86 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.78 and a quick ratio of 1.78. The business’s 50-day simple moving average is $2.16 and its two-hundred day simple moving average is $2.36. Fluent has a 52 week low of $1.69 and a 52 week high of $8.50.

Fluent (NASDAQ:FLNT) last posted its quarterly earnings results on Thursday, November 4th. The company reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.05). The business had revenue of $85.86 million for the quarter, compared to the consensus estimate of $84.79 million. Fluent had a negative net margin of 4.40% and a negative return on equity of 6.48%. During the same period in the prior year, the business earned $0.01 earnings per share. As a group, analysts expect that Fluent will post -0.13 EPS for the current fiscal year.

In related news, President Matthew Conlin acquired 25,000 shares of Fluent stock in a transaction on Tuesday, November 30th. The shares were bought at an average cost of $1.86 per share, with a total value of $46,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Schulke acquired 10,000 shares of Fluent stock in a transaction on Wednesday, November 10th. The shares were bought at an average cost of $2.53 per share, for a total transaction of $25,300.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 45,000 shares of company stock worth $89,800. Insiders own 21.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of FLNT. BNP Paribas Arbitrage SA boosted its position in shares of Fluent by 103.8% during the third quarter. BNP Paribas Arbitrage SA now owns 10,998 shares of the company’s stock valued at $25,000 after buying an additional 5,602 shares during the period. Barclays PLC boosted its position in shares of Fluent by 146.2% during the third quarter. Barclays PLC now owns 17,716 shares of the company’s stock valued at $41,000 after buying an additional 10,519 shares during the period. XTX Topco Ltd purchased a new position in shares of Fluent during the second quarter valued at approximately $56,000. Virtu Financial LLC purchased a new position in shares of Fluent during the second quarter valued at approximately $59,000. Finally, SG Americas Securities LLC purchased a new position in shares of Fluent during the third quarter valued at approximately $59,000. 30.30% of the stock is currently owned by institutional investors.

Fluent Company Profile

Fluent, Inc engages in the provision of digital marketing services. It operates through Fluent and All Other segments. The Fluent segment include delivering data and performance-based marketing executions. The All Other segment represent the operation results of AdParlor, LLC, a digital advertising solution for social media buying.

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