Fluent Inc (NASDAQ:FLNT) traded up 7% on Tuesday following insider buying activity. The company traded as high as $1.72 and last traded at $1.68, 284,411 shares changed hands during mid-day trading. A decline of 28% from the average session volume of 397,134 shares. The stock had previously closed at $1.57.
Specifically, CEO Ryan Schulke purchased 16,422 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average cost of $1.70 per share, for a total transaction of $27,917.40. Following the completion of the purchase, the chief executive officer now directly owns 7,216,354 shares of the company’s stock, valued at $12,267,801.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Matthew Conlin purchased 25,000 shares of Fluent stock in a transaction dated Thursday, September 5th. The shares were acquired at an average cost of $2.85 per share, for a total transaction of $71,250.00. Following the transaction, the insider now directly owns 5,325,229 shares of the company’s stock, valued at approximately $15,176,902.65. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 56,781 shares of company stock valued at $125,304. Company insiders own 20.20% of the company’s stock.
FLNT has been the topic of several recent research reports. ValuEngine raised shares of Fluent from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Zacks Investment Research cut shares of Fluent from a “hold” rating to a “strong sell” rating in a research report on Monday, November 18th. Barrington Research downgraded shares of Fluent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 12th. Finally, TheStreet lowered Fluent from a “c” rating to a “d+” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $6.58.
The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.27. The company has a market cap of $129.04 million, a PE ratio of 16.80 and a beta of 0.99. The company has a fifty day simple moving average of $2.11 and a two-hundred day simple moving average of $3.72.
Fluent (NASDAQ:FLNT) last announced its quarterly earnings data on Monday, November 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.08). Fluent had a negative net margin of 0.39% and a positive return on equity of 0.22%. The company had revenue of $64.60 million during the quarter, compared to analysts’ expectations of $69.60 million. The company’s revenue was down 2.9% on a year-over-year basis. On average, research analysts anticipate that Fluent Inc will post -0.08 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in FLNT. Stone Ridge Asset Management LLC lifted its stake in Fluent by 9.5% in the second quarter. Stone Ridge Asset Management LLC now owns 27,733 shares of the company’s stock worth $149,000 after acquiring an additional 2,400 shares during the last quarter. WealthTrust Axiom LLC increased its position in shares of Fluent by 5.7% in the 3rd quarter. WealthTrust Axiom LLC now owns 80,611 shares of the company’s stock valued at $220,000 after purchasing an additional 4,366 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Fluent by 3.9% in the 3rd quarter. California Public Employees Retirement System now owns 235,980 shares of the company’s stock valued at $645,000 after purchasing an additional 8,877 shares during the last quarter. Ausdal Financial Partners Inc. acquired a new stake in shares of Fluent in the 2nd quarter valued at $56,000. Finally, A.R.T. Advisors LLC acquired a new stake in shares of Fluent in the 2nd quarter valued at $59,000. Hedge funds and other institutional investors own 32.64% of the company’s stock.
About Fluent (NASDAQ:FLNT)
Fluent, Inc provides data-driven digital marketing services primarily in the United States. The company also offers customer acquisition services by operating digital marketing campaigns, through which the company connects its advertiser clients with consumers. It delivers data and performance-based marketing executions to approximately 500 consumer brands, direct marketers, and agencies across a range of industries, including financial services, retail and consumer, media and entertainment, staffing and recruitment, and marketing services.
Further Reading: Oversold
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