Renaissance Technologies LLC Buys 307,800 Shares of Cardlytics, Inc. (NASDAQ:CDLX)

Renaissance Technologies LLC raised its stake in shares of Cardlytics, Inc. (NASDAQ:CDLX) by 711.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 351,035 shares of the company’s stock after acquiring an additional 307,800 shares during the quarter. Renaissance Technologies LLC owned approximately 0.72% of Cardlytics worth $2,882,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CDLX. Clear Street Markets LLC bought a new position in shares of Cardlytics during the fourth quarter valued at $199,000. General Equity Holdings LP lifted its holdings 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 valued at $5,748,000 after acquiring an additional 147,843 shares during the period. Virtu Financial LLC bought a new position in shares of Cardlytics during the fourth quarter valued at $219,000. Los Angeles Capital Management LLC lifted its holdings in shares of Cardlytics by 36.1% during the first quarter. Los Angeles Capital Management LLC now owns 106,916 shares of the company’s stock valued at $1,549,000 after acquiring an additional 28,370 shares during the period. Finally, Check Capital Management Inc. CA lifted its holdings in shares of Cardlytics by 83.1% during the first quarter. Check Capital Management Inc. CA now owns 42,475 shares of the company’s stock valued at $615,000 after acquiring an additional 19,275 shares during the period. 68.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on CDLX shares. Northland Securities cut Cardlytics from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $7.00 to $5.00 in a report on Friday, August 16th. Needham & Company LLC cut Cardlytics from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Craig Hallum cut Cardlytics from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Northland Capmk cut Cardlytics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 16th. Finally, Bank of America cut Cardlytics from a “neutral” rating to an “underperform” rating and cut their price target for the company from $4.00 to $3.50 in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.50.

Insider Buying and Selling

In related news, COO Amit Gupta sold 22,699 shares of Cardlytics stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $8.66, for a total value of $196,573.34. Following the completion of the sale, the chief operating officer now directly owns 150,569 shares in the company, valued at $1,303,927.54. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Scott A. Hill bought 40,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $3.58 per share, for a total transaction of $143,200.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at $143,200. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Amit Gupta sold 22,699 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $8.66, for a total value of $196,573.34. Following the transaction, the chief operating officer now owns 150,569 shares of the company’s stock, valued at $1,303,927.54. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.

Cardlytics Stock Performance

Cardlytics stock opened at $3.20 on Tuesday. The stock has a 50-day simple moving average of $4.68 and a 200 day simple moving average of $8.67. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $156.11 million, a price-to-earnings ratio of -0.72 and a beta of 1.68. Cardlytics, Inc. has a 12-month low of $2.89 and a 12-month high of $20.52.

Cardlytics (NASDAQ:CDLX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.12. The firm had revenue of $69.64 million during the quarter, compared to analyst estimates of $75.39 million. Cardlytics had a negative return on equity of 17.96% and a negative net margin of 50.21%. The company’s revenue was down 9.2% on a year-over-year basis. During the same period last year, the company earned ($0.57) earnings per share. On average, research analysts anticipate that Cardlytics, Inc. will post -1.72 earnings per share for the current fiscal year.

Cardlytics Profile

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.