Insider Buying: Fluent (NASDAQ:FLNT) Major Shareholder Acquires $168,762.00 in Stock

Fluent, Inc. (NASDAQ:FLNT) major shareholder Global Value Investment Corp. purchased 61,368 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was acquired at an average price of $2.75 per share, for a total transaction of $168,762.00. Following the completion of the transaction, the insider directly owned 3,151,044 shares of the company’s stock, valued at approximately $8,665,371. This trade represents a 1.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Fluent Trading Up 1.0%

Shares of Fluent stock opened at $3.02 on Friday. Fluent, Inc. has a 1-year low of $1.70 and a 1-year high of $4.15. The company’s fifty day simple moving average is $2.80 and its 200-day simple moving average is $2.95. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $90.06 million, a PE ratio of -3.47 and a beta of 0.89.

Fluent (NASDAQ:FLNT) last announced its earnings results on Wednesday, May 13th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.02. Fluent had a negative return on equity of 132.41% and a negative net margin of 12.22%.The company had revenue of $44.85 million for the quarter, compared to analysts’ expectations of $48.80 million. As a group, equities analysts anticipate that Fluent, Inc. will post -0.48 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Lake Street Capital began coverage on shares of Fluent in a report on Thursday, April 23rd. They issued a “buy” rating and a $5.00 target price for the company. Canaccord Genuity Group lifted their price target on shares of Fluent from $2.50 to $3.50 and gave the company a “hold” rating in a report on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $4.25.

Hedge Funds Weigh In On Fluent

Hedge funds have recently made changes to their positions in the business. 4WEALTH Advisors Inc. lifted its holdings in Fluent by 27.1% in the 1st quarter. 4WEALTH Advisors Inc. now owns 22,237 shares of the company’s stock worth $69,000 after purchasing an additional 4,735 shares in the last quarter. Millennium Management LLC purchased a new stake in Fluent during the 4th quarter valued at approximately $84,000. Susquehanna International Group LLP grew its holdings in Fluent by 65.3% during the 3rd 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 in the last quarter. Geode Capital Management LLC grew its holdings in Fluent by 44.7% during the 4th quarter. Geode Capital Management LLC now owns 144,713 shares of the company’s stock valued at $347,000 after buying an additional 44,684 shares in the last quarter. Finally, Mink Brook Asset Management LLC bought a new stake in shares of Fluent during the third quarter valued at approximately $634,000. Institutional investors own 23.33% of the company’s stock.

Fluent Company Profile

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.