Short Interest in Cardlytics, Inc. (NASDAQ:CDLX) Drops By 90.4%

Cardlytics, Inc. (NASDAQ:CDLX) saw a significant drop in short interest in June. As of June 15th, there was short interest totaling 728,104 shares, a drop of 90.4% from the May 31st total of 7,561,046 shares. Based on an average daily trading volume, of 121,479 shares, the short-interest ratio is presently 6.0 days. Approximately 13.3% of the shares of the stock are short sold.

Cardlytics Stock Performance

CDLX stock opened at $4.74 on Friday. Cardlytics has a 52 week low of $4.50 and a 52 week high of $32.80. The firm’s fifty day moving average is $6.90 and its 200 day moving average is $9.00. The firm has a market cap of $27.53 million, a P/E ratio of -0.27 and a beta of 0.58.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CDLX shares. Evercore set a $10.00 price objective on Cardlytics in a report on Friday, March 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cardlytics in a research note on Thursday, June 18th. Bank of America reiterated an “underperform” rating on shares of Cardlytics in a research report on Thursday, March 5th. Wall Street Zen cut shares of Cardlytics from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Cardlytics in a report on Friday, April 10th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Cardlytics currently has an average rating of “Reduce” and a consensus target price of $10.00.

Insider Activity at Cardlytics

In other Cardlytics news, CFO David Thomas Evans bought 5,000 shares of Cardlytics stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average cost of $6.30 per share, for a total transaction of $31,500.00. Following the completion of the transaction, the chief financial officer directly owned 31,793 shares in the company, valued at $200,295.90. This represents a 18.66% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicholas Hollmeyer Lynton sold 4,029 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $9.90, for a total value of $39,887.10. Following the transaction, the insider owned 16,785 shares of the company’s stock, valued at approximately $166,171.50. The trade was a 19.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 22,688 shares of company stock valued at $241,288. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd increased its holdings in shares of Cardlytics by 143.5% in the second quarter. XTX Topco Ltd now owns 85,971 shares of the company’s stock worth $141,000 after buying an additional 50,663 shares during the period. Marshall Wace LLP purchased a new stake in Cardlytics during the 2nd quarter valued at about $59,000. Jane Street Group LLC boosted its holdings in Cardlytics by 263.0% during the 2nd quarter. Jane Street Group LLC now owns 162,427 shares of the company’s stock valued at $267,000 after acquiring an additional 117,687 shares during the period. Private Advisor Group LLC bought a new position in Cardlytics during the 3rd quarter worth approximately $272,000. Finally, UBS Group AG grew its position in Cardlytics by 112.5% during the 3rd quarter. UBS Group AG now owns 458,066 shares of the company’s stock worth $1,113,000 after acquiring an additional 242,536 shares during the last quarter. 68.10% of the stock is owned by institutional investors.

About Cardlytics

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.