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

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

Cardlytics Stock Down 6.1%

Shares of CDLX traded down $0.04 during trading on Thursday, reaching $0.61. 547,003 shares of the company traded hands, compared to its average volume of 1,048,849. Cardlytics has a twelve month low of $0.57 and a twelve month high of $3.28. The stock has a market cap of $35.15 million, a PE ratio of -0.34 and a beta of 0.58. The stock has a 50-day simple moving average of $0.86 and a 200-day simple moving average of $0.98.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, CFO David Thomas Evans purchased 50,000 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were bought at an average cost of $0.63 per share, with a total value of $31,500.00. Following the purchase, the chief financial officer directly owned 317,930 shares of the company’s stock, valued at approximately $200,295.90. This trade represents a 18.66% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Hollmeyer Lynton sold 40,296 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $0.99, for a total transaction of $39,893.04. Following the sale, the insider directly owned 167,856 shares in the company, valued at $166,177.44. This represents a 19.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 226,903 shares of company stock valued at $241,312 in the last ninety days. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Cardlytics

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in shares of Cardlytics by 262.7% in the third quarter. Bank of America Corp DE now owns 1,632,786 shares of the company’s stock worth $3,968,000 after acquiring an additional 1,182,593 shares during the last quarter. Quinn Opportunity Partners LLC boosted its position in shares of Cardlytics by 900.0% in the third quarter. Quinn Opportunity Partners LLC now owns 1,100,000 shares of the company’s stock worth $2,673,000 after acquiring an additional 990,000 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Cardlytics by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 654,472 shares of the company’s stock worth $753,000 after acquiring an additional 20,908 shares during the last quarter. UBS Group AG boosted its position in shares of Cardlytics by 112.5% in the third quarter. UBS Group AG now owns 458,066 shares of the company’s stock worth $1,113,000 after acquiring an additional 242,536 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Cardlytics by 38.1% in the fourth quarter. Invesco Ltd. now owns 170,122 shares of the company’s stock worth $196,000 after acquiring an additional 46,973 shares during the last quarter. 68.10% of the stock is owned by institutional investors and hedge funds.

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.