Cardlytics Inc (NASDAQ:CDLX) Short Interest Update

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Cardlytics Inc (NASDAQ:CDLX) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 3,410,000 shares, an increase of 11.4% from the August 30th total of 3,060,000 shares. Based on an average daily volume of 453,800 shares, the short-interest ratio is presently 7.5 days. Currently, 16.8% of the company’s stock are short sold.

CDLX has been the subject of a number of research reports. William Blair initiated coverage on shares of Cardlytics in a report on Monday, July 1st. They issued an “outperform” rating for the company. JPMorgan Chase & Co. set a $43.00 target price on shares of Cardlytics and gave the company a “buy” rating in a report on Friday, August 9th. Raymond James increased their price target on shares of Cardlytics from $24.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. SunTrust Banks increased their price target on shares of Cardlytics from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Zacks Investment Research cut shares of Cardlytics from a “buy” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $34.71.

NASDAQ CDLX traded up $0.47 during trading hours on Wednesday, hitting $38.72. 2,418 shares of the stock were exchanged, compared to its average volume of 403,083. The company has a market cap of $844.17 million, a price-to-earnings ratio of -18.15 and a beta of 1.49. Cardlytics has a 12-month low of $9.80 and a 12-month high of $39.62. The stock has a 50-day moving average of $35.46 and a 200 day moving average of $26.63. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.79.

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

In related news, major shareholder Clifford Sosin acquired 40,000 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was bought at an average price of $35.38 per share, for a total transaction of $1,415,200.00. Also, insider Kirk Somers sold 1,500 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $27.46, for a total transaction of $41,190.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,834,665 shares of company stock valued at $88,332,737. Insiders own 21.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CDLX. Bank of Montreal Can raised its holdings in Cardlytics by 16,371.4% during the second quarter. Bank of Montreal Can now owns 1,153 shares of the company’s stock worth $30,000 after purchasing an additional 1,146 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Cardlytics in the second quarter valued at about $60,000. Rockefeller Capital Management L.P. purchased a new position in Cardlytics in the second quarter valued at about $85,000. Acadian Asset Management LLC purchased a new position in Cardlytics in the second quarter valued at about $161,000. Finally, Royal Bank of Canada increased its holdings in Cardlytics by 166.5% in the second quarter. Royal Bank of Canada now owns 10,643 shares of the company’s stock valued at $276,000 after buying an additional 6,649 shares in the last quarter. 84.08% of the stock is owned by hedge funds and other institutional investors.

About Cardlytics

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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