Cardlytics (NASDAQ:CDLX) Downgraded by Bank of America

Bank of America downgraded shares of Cardlytics (NASDAQ:CDLX) from a neutral rating to an underperform rating in a research report released on Thursday morning, MarketBeat.com reports. Bank of America currently has $3.50 price objective on the stock, down from their previous price objective of $4.00.

A number of other research analysts have also recently weighed in on the company. Lake Street Capital cut Cardlytics from a buy rating to a hold rating and reduced their target price for the company from $18.00 to $5.00 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. Needham & Company LLC cut Cardlytics from a buy rating to a hold rating in a report on Thursday, August 8th. Northland Capmk upgraded Cardlytics to a strong-buy rating in a report on Tuesday, June 18th. Finally, Northland Securities cut their price objective on Cardlytics from $14.00 to $7.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $7.50.

Cardlytics Price Performance

CDLX stock opened at $3.68 on Thursday. Cardlytics has a 52-week low of $2.89 and a 52-week high of $20.52. The stock’s fifty day simple moving average is $7.61 and its 200-day simple moving average is $9.44. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $179.52 million, a price-to-earnings ratio of -0.83 and a beta of 1.65.

Cardlytics (NASDAQ:CDLX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.12. Cardlytics had a negative return on equity of 25.36% and a negative net margin of 55.23%. The business had revenue of $69.64 million for the quarter, compared to analysts’ expectations of $75.39 million. During the same quarter last year, the firm earned ($0.57) earnings per share. The business’s revenue was down 9.2% on a year-over-year basis. Equities research analysts expect that Cardlytics will post -1.8 EPS for the current year.

Insider Buying and Selling at Cardlytics

In other Cardlytics news, insider Nicholas Hollmeyer Lynton sold 5,956 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $7.95, for a total value of $47,350.20. Following the transaction, the insider now directly owns 78,593 shares of the company’s stock, valued at $624,814.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cardlytics news, Director Scott A. Hill bought 40,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $3.58 per share, with a total value of $143,200.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at $143,200. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicholas Hollmeyer Lynton sold 5,956 shares of Cardlytics stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $7.95, for a total value of $47,350.20. Following the sale, the insider now directly owns 78,593 shares in the company, valued at $624,814.35. The disclosure for this sale can be found here. Insiders have sold 86,742 shares of company stock valued at $735,905 over the last three months. 4.40% of the stock is owned by company insiders.

Institutional Trading of Cardlytics

A number of hedge funds and other institutional investors have recently modified their holdings of CDLX. Canton Hathaway LLC increased its position in shares of Cardlytics by 95.7% during the second quarter. Canton Hathaway LLC now owns 4,500 shares of the company’s stock worth $37,000 after acquiring an additional 2,200 shares during the last quarter. XTX Topco Ltd bought a new stake in Cardlytics in the second quarter valued at about $107,000. Quest Partners LLC increased its holdings in Cardlytics by 160.4% in the second quarter. Quest Partners LLC now owns 17,956 shares of the company’s stock valued at $147,000 after buying an additional 11,061 shares during the last quarter. Clear Street Markets LLC bought a new stake in Cardlytics in the fourth quarter valued at about $199,000. Finally, Banco Santander S.A. bought a new stake in Cardlytics in the first quarter valued at about $199,000. 68.10% of the stock is owned by hedge funds and other institutional investors.

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.