Fluent (NASDAQ:FLNT) Trading Down 33.9% After Earnings Miss

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Fluent Inc (NASDAQ:FLNT) traded down 33.9% during mid-day trading on Tuesday following a weaker than expected earnings announcement. The company traded as low as $1.50 and last traded at $1.68, 1,880,200 shares were traded during trading. An increase of 380% from the average session volume of 391,335 shares. The stock had previously closed at $2.54.

The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.08). The company had revenue of $64.60 million for the quarter, compared to analyst estimates of $69.60 million. Fluent had a return on equity of 4.51% and a net margin of 2.87%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year.

FLNT has been the topic of several research analyst reports. Zacks Investment Research raised Fluent from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. ValuEngine raised Fluent from a “sell” rating to a “hold” rating in a report on Friday. Finally, Barrington Research lowered Fluent from an “outperform” rating to a “market perform” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. Fluent currently has an average rating of “Hold” and an average target price of $6.58.

In other Fluent news, COO Donald Huntley Patrick acquired 15,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were bought at an average cost of $3.08 per share, with a total value of $46,200.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Matthew Conlin acquired 25,000 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was acquired at an average cost of $2.85 per share, for a total transaction of $71,250.00. Following the completion of the acquisition, the insider now owns 5,325,229 shares of the company’s stock, valued at approximately $15,176,902.65. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 119,000 shares of company stock worth $353,680. 20.20% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLNT. WINTON GROUP Ltd lifted its position in shares of Fluent by 113.5% in the second quarter. WINTON GROUP Ltd now owns 21,371 shares of the company’s stock valued at $115,000 after acquiring an additional 11,362 shares in the last quarter. Comprehensive Portfolio Management LLC purchased a new position in shares of Fluent in the second quarter valued at approximately $63,000. Zeke Capital Advisors LLC lifted its position in shares of Fluent by 99.0% in the second quarter. Zeke Capital Advisors LLC now owns 30,150 shares of the company’s stock valued at $162,000 after acquiring an additional 15,000 shares in the last quarter. Strs Ohio purchased a new position in shares of Fluent in the second quarter valued at approximately $100,000. Finally, Bailard Inc. purchased a new position in shares of Fluent in the second quarter valued at approximately $163,000. Institutional investors and hedge funds own 33.34% of the company’s stock.

The firm has a market cap of $186.54 million, a PE ratio of 16.80, a P/E/G ratio of 0.76 and a beta of 1.12. The firm has a 50-day moving average price of $2.59 and a two-hundred day moving average price of $4.29. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.27.

Fluent Company Profile (NASDAQ:FLNT)

Fluent, Inc provides data-driven digital marketing services primarily in the United States. The company also offers customer acquisition services by operating digital marketing campaigns, through which the company connects its advertiser clients with consumers. It delivers data and performance-based marketing executions to approximately 500 consumer brands, direct marketers, and agencies across a range of industries, including financial services, retail and consumer, media and entertainment, staffing and recruitment, and marketing services.

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