Cardlytics (NASDAQ:CDLX) Shares Scheduled to Reverse Split on Monday, June 8th

Cardlytics, Inc. (NASDAQ:CDLX) shares are set to reverse split before the market opens on 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%

CDLX stock traded down $0.04 during trading on Thursday, hitting $0.61. 547,003 shares of the company traded hands, compared to its average volume of 813,679. The stock’s 50-day simple moving average is $0.85 and its 200 day simple moving average is $0.97. Cardlytics has a 1 year low of $0.57 and a 1 year high of $3.28.

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 the consensus estimate of ($0.07) by ($0.08). Cardlytics had a negative net margin of 46.03% and a negative return on equity of 956.56%. The company had revenue of $56.10 million for the quarter, compared to analysts’ expectations of $54.46 million. As a group, sell-side analysts expect that Cardlytics will post -0.11 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Bank of America reaffirmed an “underperform” rating on shares of Cardlytics in a report on Thursday, March 5th. Lake Street Capital set a $1.00 target price on Cardlytics in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cardlytics in a research note on Friday, April 10th. Evercore set a $1.00 price target on shares of Cardlytics in a research note on Friday, March 6th. Finally, Wall Street Zen raised shares of Cardlytics from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Cardlytics has an average rating of “Sell” and an average price target of $1.00.

Insider Activity at Cardlytics

In other news, CFO David Thomas Evans acquired 150,000 shares of Cardlytics stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average cost of $0.65 per share, with a total value of $97,500.00. Following the purchase, the chief financial officer owned 267,930 shares in the company, valued at $174,154.50. This trade represents a 127.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Hollmeyer Lynton sold 40,296 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $0.99, for a total value of $39,893.04. Following the completion of the transaction, the insider directly owned 167,856 shares of the company’s stock, valued at approximately $166,177.44. This represents a 19.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 226,903 shares of company stock valued at $241,312. 5.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Cardlytics

A number of large investors have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC purchased a new stake in Cardlytics in the 3rd quarter valued at $26,000. Virtu Financial LLC purchased a new stake in Cardlytics in the 4th quarter valued at $39,000. Qube Research & Technologies Ltd purchased a new stake in Cardlytics in the 3rd quarter valued at $55,000. Marshall Wace LLP purchased a new stake in Cardlytics in the 2nd quarter valued at $59,000. Finally, Renaissance Technologies LLC purchased a new stake in Cardlytics in the 4th quarter valued at $62,000. 68.10% of the stock is currently owned by hedge funds and other institutional investors.

Cardlytics Company Profile

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.