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

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

NASDAQ:CDLX traded down $1.98 during trading hours on Friday, hitting $35.49. 15,845 shares of the company’s stock traded hands, compared to its average volume of 532,278. The firm has a market cap of $855.44 million, a P/E ratio of -16.37 and a beta of 1.55. Cardlytics has a twelve month low of $9.80 and a twelve month high of $39.62. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.01 and a current ratio of 2.01. The stock’s fifty day moving average price is $32.99 and its two-hundred day moving average price is $23.66.

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

In other news, CFO David Thomas Evans sold 1,500 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $25.18, for a total transaction of $37,770.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Lynne Marie Laube sold 1,540 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $24.14, for a total value of $37,175.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,354,392 shares of company stock valued at $72,349,708. 21.90% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Grantham Mayo Van Otterloo & Co. LLC acquired a new position in Cardlytics in the 2nd quarter worth about $10,392,000. CIBC Private Wealth Group LLC increased its position in Cardlytics by 6.7% in the 1st quarter. CIBC Private Wealth Group LLC now owns 37,745 shares of the company’s stock worth $624,000 after purchasing an additional 2,375 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in Cardlytics by 11.5% in the 1st quarter. Frontier Capital Management Co. LLC now owns 1,631,248 shares of the company’s stock worth $26,981,000 after purchasing an additional 168,471 shares during the last quarter. Penn Capital Management Co. Inc. increased its holdings in shares of Cardlytics by 24.0% during the 1st quarter. Penn Capital Management Co. Inc. now owns 190,606 shares of the company’s stock valued at $3,153,000 after acquiring an additional 36,830 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Cardlytics by 177.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 199,301 shares of the company’s stock valued at $4,901,000 after acquiring an additional 127,596 shares during the last quarter. 85.01% of the stock is currently owned by institutional investors.

CDLX has been the topic of several recent analyst reports. Zacks Investment Research lowered Cardlytics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. set a $43.00 price target on Cardlytics and gave the company a “buy” rating in a research report on Friday, August 9th. Raymond James upped their price target on Cardlytics from $24.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. SunTrust Banks upped their price target on Cardlytics from $25.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Bank of America reissued a “buy” rating and set a $32.00 price target (up from $22.00) on shares of Cardlytics in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Cardlytics currently has a consensus rating of “Buy” and a consensus price target of $33.29.

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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