Cogint, Inc. (COGT) Rating Lowered to Sell at Zacks Investment Research

Cogint, Inc. (NASDAQ:COGT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “Cogint, Inc. is involved in data analytics products and services. The Company offers cloud-based mobile user and data acquisition, audience, risk management and marketing solutions to the risk management industry. Cogint Inc., formerly known as IDI Inc., is based in Beverly Hills, United States. “

A number of other analysts have also commented on COGT. Roth Capital set a $8.00 price objective on Cogint and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Chardan Capital restated a “buy” rating and set a $7.00 target price (down from $12.50) on shares of Cogint in a research report on Thursday, November 9th.

Shares of Cogint (NASDAQ COGT) traded up $0.10 during mid-day trading on Tuesday, reaching $4.35. The company had a trading volume of 304,600 shares, compared to its average volume of 229,367. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.60 and a quick ratio of 1.60. Cogint has a 1 year low of $3.05 and a 1 year high of $6.30.

Cogint (NASDAQ:COGT) last announced its quarterly earnings data on Wednesday, November 8th. The technology company reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.09). The firm had revenue of $57.25 million during the quarter, compared to analyst estimates of $62.24 million. Cogint had a negative return on equity of 17.78% and a negative net margin of 24.45%. Cogint’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.19) earnings per share. equities analysts anticipate that Cogint will post -0.86 earnings per share for the current fiscal year.

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In related news, Chairman Michael Brauser bought 7,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was bought at an average cost of $4.23 per share, for a total transaction of $29,610.00. Following the transaction, the chairman now owns 329,235 shares of the company’s stock, valued at $1,392,664.05. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 53.30% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of COGT. Wells Fargo & Company MN grew its position in shares of Cogint by 1,009.3% during the 1st quarter. Wells Fargo & Company MN now owns 59,212 shares of the technology company’s stock worth $276,000 after buying an additional 53,874 shares during the period. Bank of New York Mellon Corp grew its position in shares of Cogint by 25.6% during the 1st quarter. Bank of New York Mellon Corp now owns 75,437 shares of the technology company’s stock worth $350,000 after buying an additional 15,384 shares during the period. Parametric Portfolio Associates LLC acquired a new position in shares of Cogint during the 1st quarter worth about $179,000. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Cogint by 328.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 103,200 shares of the technology company’s stock worth $480,000 after buying an additional 79,100 shares during the period. Institutional investors own 9.02% of the company’s stock.

About Cogint

IDI, Inc, formerly Tiger Media, Inc, is a data and analytics company providing information and marketing solutions to businesses in a range of industries. The Company operates through two segments: Information Services and Performance Marketing. The Company serves the risk management and the consumer marketing industries through its consolidated subsidiaries, Interactive Data, LLC and Fluent, LLC, respectively.

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