Fluent (NASDAQ:FLNT) Issues Earnings Results, Beats Expectations By $0.02 EPS

Fluent (NASDAQ:FLNT) announced its quarterly earnings results on Monday. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.02, FiscalAI reports. The business had revenue of $48.45 million during the quarter, compared to analysts’ expectations of $44.64 million. Fluent had a negative net margin of 12.22% and a negative return on equity of 132.41%.

Fluent Stock Up 5.7%

Shares of NASDAQ FLNT traded up $0.23 during mid-day trading on Monday, hitting $4.27. 45,125 shares of the stock traded hands, compared to its average volume of 63,428. The company has a market cap of $127.33 million, a price-to-earnings ratio of -4.91 and a beta of 0.76. The stock has a fifty day moving average price of $3.27 and a 200-day moving average price of $3.24. Fluent has a 52 week low of $1.70 and a 52 week high of $4.36. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.95 and a current ratio of 0.95.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital initiated coverage on shares of Fluent in a research note on Thursday, April 23rd. They set a “buy” rating and a $5.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.25.

Insiders Place Their Bets

In other Fluent news, CEO Donald Huntley Patrick sold 19,230 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $2.58, for a total transaction of $49,613.40. Following the completion of the transaction, the chief executive officer owned 312,455 shares of the company’s stock, valued at approximately $806,133.90. This trade represents a 5.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director James Geygan bought 60,183 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were acquired at an average price of $2.75 per share, for a total transaction of $165,503.25. Following the acquisition, the director owned 3,100,838 shares in the company, valued at approximately $8,527,304.50. This represents a 1.98% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 132,736 shares of company stock worth $358,260 and sold 29,120 shares worth $75,197. 38.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fluent

Several hedge funds have recently bought and sold shares of FLNT. Millennium Management LLC bought a new position in shares of Fluent during the fourth quarter valued at approximately $84,000. Susquehanna International Group LLP raised its stake in Fluent by 65.3% during the third quarter. Susquehanna International Group LLP now owns 39,947 shares of the company’s stock valued at $89,000 after buying an additional 15,777 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Fluent by 44.7% in the fourth quarter. Geode Capital Management LLC now owns 144,713 shares of the company’s stock worth $347,000 after acquiring an additional 44,684 shares in the last quarter. Institutional investors own 23.33% of the company’s stock.

About Fluent

Fluent, Inc is a performance marketing and customer acquisition platform that helps consumer brands drive leads and sales through data-driven digital campaigns. The company specializes in direct-response marketing, executing campaigns across multiple channels including email, display, paid search, social media and native advertising. By focusing on measurable outcomes such as cost per acquisition and return on ad spend, Fluent tailors solutions to meet the specific objectives of its clients.

The company’s proprietary technology leverages first-party data sourced from its network of consumer-facing digital properties and programmatic partnerships.