Acorn Financial Advisory Services Inc. ADV Purchases 47,358 Shares of Cardlytics, Inc. (NASDAQ:CDLX)

Acorn Financial Advisory Services Inc. ADV increased its stake in Cardlytics, Inc. (NASDAQ:CDLX) by 40.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 164,409 shares of the company’s stock after purchasing an additional 47,358 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in Cardlytics were worth $526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CDLX. Creative Planning boosted its stake in shares of Cardlytics by 35.4% during the 3rd quarter. Creative Planning now owns 29,537 shares of the company’s stock worth $95,000 after acquiring an additional 7,721 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Cardlytics during the 3rd quarter worth $45,000. Marshall Wace LLP boosted its stake in shares of Cardlytics by 6.8% during the 2nd quarter. Marshall Wace LLP now owns 814,281 shares of the company’s stock worth $6,685,000 after acquiring an additional 52,081 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Cardlytics during the 2nd quarter worth $107,000. Finally, Pekin Hardy Strauss Inc. purchased a new position in shares of Cardlytics during the 2nd quarter worth $243,000. Hedge funds and other institutional investors own 68.10% of the company’s stock.

Insider Transactions at Cardlytics

In other news, CEO Amit Gupta sold 22,607 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $3.85, for a total value of $87,036.95. Following the sale, the chief executive officer now directly owns 178,519 shares in the company, valued at $687,298.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Scott A. Hill purchased 40,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $3.58 per share, with a total value of $143,200.00. Following the purchase, the director now owns 40,000 shares in the company, valued at approximately $143,200. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amit Gupta sold 22,607 shares of Cardlytics stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $3.85, for a total transaction of $87,036.95. Following the transaction, the chief executive officer now directly owns 178,519 shares of the company’s stock, valued at approximately $687,298.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,573 shares of company stock worth $151,612 in the last three months. Insiders own 4.40% of the company’s stock.

Cardlytics Price Performance

NASDAQ CDLX traded up $0.30 on Friday, reaching $4.37. The company had a trading volume of 1,752,101 shares, compared to its average volume of 1,242,283. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $217.80 million, a PE ratio of -1.14 and a beta of 1.61. The firm’s 50 day moving average price is $3.69 and its 200 day moving average price is $6.70. Cardlytics, Inc. has a 12 month low of $2.89 and a 12 month high of $20.52.

Cardlytics (NASDAQ:CDLX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.18. Cardlytics had a negative net margin of 50.21% and a negative return on equity of 17.96%. The company had revenue of $67.06 million for the quarter, compared to the consensus estimate of $57.77 million. During the same period in the previous year, the firm posted ($0.26) EPS. Cardlytics’s revenue for the quarter was down 15.1% compared to the same quarter last year. As a group, equities analysts predict that Cardlytics, Inc. will post -1.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CDLX has been the topic of several analyst reports. Lake Street Capital cut shares of Cardlytics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $18.00 to $5.00 in a research note on Thursday, August 8th. Northland Securities cut shares of Cardlytics from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $7.00 to $5.00 in a research note on Friday, August 16th. Craig Hallum upgraded shares of Cardlytics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Northland Capmk cut shares of Cardlytics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 16th. Finally, Evercore ISI started coverage on shares of Cardlytics in a research note on Friday, October 11th. They set an “in-line” rating and a $4.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.92.

About Cardlytics

Cardlytics, Inc operates an advertising platform in the United States and the United Kingdom. It offers Cardlytics platform, a proprietary native bank advertising channel that enables marketers to reach customers through their network of financial institution partners through digital channels, such as online, mobile applications, email, and various real-time notifications; and Bridg platform, a customer data platform which utilizes point-of-sale data and enables marketers to perform analytics and targeted loyalty marketing, as well as measure the impact of their marketing.