Cardlytics Stock Scheduled to Reverse Split on Monday, June 8th (NASDAQ:CDLX)

Shares of Cardlytics, Inc. (NASDAQ:CDLX) are set to reverse split before the market opens on Monday, June 8th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, June 7th.

Cardlytics Stock Performance

NASDAQ CDLX traded down $0.04 during mid-day trading on Thursday, reaching $0.61. 547,003 shares of the stock were exchanged, compared to its average volume of 813,679. Cardlytics has a 1-year low of $0.57 and a 1-year high of $3.28. The business’s fifty day simple moving average is $0.85 and its 200 day simple moving average is $0.97. The stock has a market capitalization of $35.15 million, a PE ratio of -0.34 and a beta of 0.58.

Cardlytics (NASDAQ:CDLX) last announced its earnings results on Wednesday, March 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). Cardlytics had a negative return on equity of 956.56% and a negative net margin of 46.03%.The firm had revenue of $56.10 million for the quarter, compared to analyst estimates of $54.46 million. On average, analysts anticipate that Cardlytics will post -0.11 EPS for the current year.

Analyst Upgrades and Downgrades

CDLX has been the topic of a number of research analyst reports. Lake Street Capital set a $1.00 price target on shares of Cardlytics in a report on Friday, May 8th. Evercore set a $1.00 price target on shares of Cardlytics in a report on Friday, March 6th. Bank of America reiterated an “underperform” rating on shares of Cardlytics in a report on Thursday, March 5th. Wall Street Zen upgraded shares of Cardlytics from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cardlytics in a report on Friday, April 10th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Cardlytics has a consensus rating of “Sell” and an average target price of $1.00.

Insider Buying and Selling at Cardlytics

In other news, insider Nicholas Hollmeyer Lynton sold 40,296 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $0.99, for a total value of $39,893.04. Following the transaction, the insider owned 167,856 shares of the company’s stock, valued at approximately $166,177.44. This trade represents a 19.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO David Thomas Evans bought 150,000 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was acquired at an average cost of $0.65 per share, for a total transaction of $97,500.00. Following the purchase, the chief financial officer owned 267,930 shares in the company, valued at approximately $174,154.50. This trade represents a 127.19% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 226,903 shares of company stock worth $241,312 in the last quarter. 5.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Cardlytics

Hedge funds have recently made changes to their positions in the business. Quinn Opportunity Partners LLC raised its stake in shares of Cardlytics by 900.0% in the 3rd quarter. Quinn Opportunity Partners LLC now owns 1,100,000 shares of the company’s stock valued at $2,673,000 after acquiring an additional 990,000 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Cardlytics in the 3rd quarter valued at $26,000. Thompson Davis & CO. Inc. purchased a new position in shares of Cardlytics in the 3rd quarter valued at $111,000. Centiva Capital LP purchased a new position in shares of Cardlytics in the 3rd quarter valued at $104,000. Finally, Algert Global LLC purchased a new position in shares of Cardlytics in the 3rd quarter valued at $100,000. Hedge funds and other institutional investors own 68.10% of the company’s stock.

About Cardlytics

Cardlytics, Inc operates a purchase intelligence and marketing platform that connects advertisers with consumers through bank and credit card transaction data. The company partners with financial institutions to analyze anonymized purchase information, enabling brands to deliver highly targeted offers and rewards directly to customers’ online and mobile banking channels. By leveraging real-time insights into consumer spending habits, Cardlytics helps marketers optimize campaign performance and measure return on ad spend more accurately than traditional digital advertising methods.

At the core of Cardlytics’ offering is its proprietary purchase intelligence engine, which aggregates and anonymizes transaction data from partner banks and credit unions.