Cardlytics Stock Set to Reverse Split on Monday, June 8th (NASDAQ:CDLX)

Cardlytics, Inc. (NASDAQ:CDLX) shares are going to reverse split on Monday, June 8th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, June 7th.

Cardlytics Stock Performance

Shares of CDLX stock traded down $0.04 on Thursday, reaching $0.61. 547,003 shares of the company’s stock traded hands, compared to its average volume of 1,048,849. The business’s 50 day moving average price is $0.86 and its two-hundred day moving average price is $0.98. Cardlytics has a 12-month low of $0.57 and a 12-month high of $3.28. The company has a market capitalization of $35.15 million, a P/E ratio of -0.34 and a beta of 0.58.

Cardlytics (NASDAQ:CDLX) last issued its earnings results on Wednesday, March 4th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). Cardlytics had a negative net margin of 46.03% and a negative return on equity of 956.56%. The firm had revenue of $56.10 million during the quarter, compared to analysts’ expectations of $54.46 million. Research analysts predict that Cardlytics will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Evercore set a $1.00 price objective on Cardlytics in a research report on Friday, March 6th. Lake Street Capital set a $1.00 target price on Cardlytics in a research report on Friday, May 8th. Wall Street Zen raised Cardlytics from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Bank of America restated an “underperform” rating on shares of Cardlytics in a research note on Thursday, March 5th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Cardlytics in a report on Friday, April 10th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Sell” and a consensus target price of $1.00.

Insiders Place Their Bets

In other Cardlytics news, insider Nicholas Hollmeyer Lynton sold 40,296 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $0.99, for a total value of $39,893.04. Following the sale, the insider owned 167,856 shares in the company, valued at approximately $166,177.44. This represents a 19.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amit Gupta sold 69,833 shares of the stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $1.19, for a total transaction of $83,101.27. Following the transaction, the chief executive officer owned 987,387 shares in the company, valued at approximately $1,174,990.53. This trade represents a 6.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 226,903 shares of company stock valued at $241,312 over the last three months. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Cardlytics

Institutional investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Cardlytics in the 3rd quarter worth about $26,000. Virtu Financial LLC purchased a new position in shares of Cardlytics during the fourth quarter worth $39,000. Qube Research & Technologies Ltd acquired a new stake in Cardlytics during the third quarter valued at $55,000. Marshall Wace LLP acquired a new stake in Cardlytics during the second quarter valued at $59,000. Finally, Renaissance Technologies LLC purchased a new position in Cardlytics during the fourth quarter valued at $62,000. 68.10% of the stock is owned by hedge funds and other institutional investors.

About Cardlytics

Cardlytics, Inc operates a purchase intelligence and marketing platform that connects advertisers with consumers through bank and credit card transaction data. The company partners with financial institutions to analyze anonymized purchase information, enabling brands to deliver highly targeted offers and rewards directly to customers’ online and mobile banking channels. By leveraging real-time insights into consumer spending habits, Cardlytics helps marketers optimize campaign performance and measure return on ad spend more accurately than traditional digital advertising methods.

At the core of Cardlytics’ offering is its proprietary purchase intelligence engine, which aggregates and anonymizes transaction data from partner banks and credit unions.