Craig Hallum Cuts Cardlytics (NASDAQ:CDLX) Price Target to $12.00

Cardlytics (NASDAQ:CDLX) had its price objective cut by equities researchers at Craig Hallum from $18.00 to $12.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s price target points to a potential upside of 32.74% from the stock’s previous close.

CDLX has been the topic of several other reports. Lake Street Capital boosted their target price on Cardlytics from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Needham & Company LLC cut their price objective on shares of Cardlytics from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday.

Cardlytics Price Performance

Shares of NASDAQ CDLX traded down $5.56 during trading on Thursday, hitting $9.04. The company had a trading volume of 6,888,130 shares, compared to its average volume of 1,525,006. Cardlytics has a fifty-two week low of $4.94 and a fifty-two week high of $20.52. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.91. The stock has a fifty day simple moving average of $12.51 and a two-hundred day simple moving average of $9.74. The firm has a market capitalization of $435.49 million, a price-to-earnings ratio of -2.52 and a beta of 1.50.

Cardlytics (NASDAQ:CDLX) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.14) earnings per share for the quarter. Cardlytics had a negative net margin of 43.56% and a negative return on equity of 25.38%. The firm had revenue of $89.17 million during the quarter.

Insider Activity at Cardlytics

In other news, major shareholder Clifford Sosin bought 350,000 shares of the company’s stock in a transaction on Monday, March 18th. The stock was bought at an average cost of $13.40 per share, with a total value of $4,690,000.00. Following the transaction, the insider now directly owns 6,023,676 shares in the company, valued at approximately $80,717,258.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Amit Gupta sold 23,416 shares of Cardlytics stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $11.91, for a total value of $278,884.56. Following the completion of the transaction, the chief operating officer now owns 122,676 shares in the company, valued at approximately $1,461,071.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Clifford Sosin acquired 350,000 shares of the stock in a transaction dated Monday, March 18th. The shares were bought at an average cost of $13.40 per share, with a total value of $4,690,000.00. Following the completion of the transaction, the insider now owns 6,023,676 shares of the company’s stock, valued at approximately $80,717,258.40. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 36,306 shares of company stock worth $455,203. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Cardlytics in the 3rd quarter valued at about $264,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Cardlytics during the third quarter worth approximately $5,258,000. Shikiar Asset Management Inc. purchased a new stake in shares of Cardlytics during the 3rd quarter worth approximately $247,000. D L Carlson Investment Group Inc. purchased a new position in shares of Cardlytics in the 3rd quarter valued at $173,000. Finally, Check Capital Management Inc. CA raised its stake in Cardlytics by 71.0% during the 3rd quarter. Check Capital Management Inc. CA now owns 20,350 shares of the company’s stock worth $336,000 after acquiring an additional 8,450 shares in the last quarter. Hedge funds and other institutional investors own 68.10% of the company’s stock.

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.