Quest Partners LLC Grows Position in Cardlytics, Inc. (NASDAQ:CDLX)

Quest Partners LLC raised its stake in Cardlytics, Inc. (NASDAQ:CDLX) by 160.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,956 shares of the company’s stock after buying an additional 11,061 shares during the period. Quest Partners LLC’s holdings in Cardlytics were worth $147,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Cardlytics by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 2,211,595 shares of the company’s stock valued at $32,046,000 after acquiring an additional 57,805 shares during the last quarter. General Equity Holdings LP increased its position in shares of Cardlytics by 31.0% during the fourth quarter. General Equity Holdings LP now owns 624,058 shares of the company’s stock worth $5,748,000 after acquiring an additional 147,843 shares during the last quarter. Kent Lake Capital LLC acquired a new position in shares of Cardlytics in the 1st quarter valued at approximately $3,622,000. Brown Advisory Inc. raised its holdings in Cardlytics by 1.7% in the fourth quarter. Brown Advisory Inc. now owns 199,633 shares of the company’s stock valued at $1,839,000 after acquiring an additional 3,257 shares in the last quarter. Finally, Perbak Capital Partners LLP acquired a new stake in shares of Cardlytics in the 1st quarter valued at about $2,348,000. 68.10% of the stock is owned by hedge funds and other institutional investors.

Cardlytics Price Performance

NASDAQ CDLX opened at $3.72 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market capitalization of $185.40 million, a price-to-earnings ratio of -0.86 and a beta of 1.68. The company has a 50 day simple moving average of $5.76 and a 200-day simple moving average of $9.02. Cardlytics, Inc. has a 52-week low of $2.89 and a 52-week high of $20.52.

Cardlytics (NASDAQ:CDLX) last issued its earnings results on Wednesday, August 7th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.12. The firm had revenue of $69.64 million for the quarter, compared to the consensus estimate of $75.39 million. Cardlytics had a negative return on equity of 17.96% and a negative net margin of 50.21%. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.57) earnings per share. Equities research analysts predict that Cardlytics, Inc. will post -1.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CDLX shares. Lake Street Capital lowered Cardlytics from a “buy” rating to a “hold” rating and dropped their price target for the company from $18.00 to $5.00 in a research report on Thursday, August 8th. Craig Hallum downgraded shares of Cardlytics from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Bank of America lowered Cardlytics from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $4.00 to $3.50 in a report on Thursday, August 15th. Northland Capmk lowered shares of Cardlytics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 16th. Finally, Northland Securities lowered Cardlytics from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $7.00 to $5.00 in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.50.

Insider Transactions at Cardlytics

In other news, insider Nicholas Hollmeyer Lynton sold 5,956 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $7.95, for a total transaction of $47,350.20. Following the completion of the sale, the insider now owns 78,593 shares in the company, valued at approximately $624,814.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Cardlytics news, insider Nicholas Hollmeyer Lynton sold 5,956 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $7.95, for a total transaction of $47,350.20. Following the completion of the sale, the insider now directly owns 78,593 shares in the company, valued at $624,814.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alexis Desieno sold 7,451 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $7.95, for a total value of $59,235.45. Following the completion of the sale, the chief financial officer now directly owns 6,898 shares in the company, valued at approximately $54,839.10. The disclosure for this sale can be found here. Insiders have sold a total of 43,613 shares of company stock worth $362,840 in the last 90 days. 4.40% of the stock is owned by insiders.

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.