Cardlytics Sees Unusually Large Options Volume (NASDAQ:CDLX)

Cardlytics, Inc. (NASDAQ:CDLX) saw unusually large options trading activity on Thursday. Stock traders purchased 8,115 call options on the stock. This represents an increase of 375% compared to the average daily volume of 1,710 call options.

Insiders Place Their Bets

In related news, major shareholder Clifford Sosin purchased 350,000 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was purchased at an average cost of $13.40 per share, for a total transaction of $4,690,000.00. Following the acquisition, the insider now owns 6,023,676 shares in the company, valued at $80,717,258.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Nicholas Hollmeyer Lynton sold 12,460 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $13.69, for a total transaction of $170,577.40. Following the completion of the sale, the insider now directly owns 71,355 shares of the company’s stock, valued at approximately $976,849.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Clifford Sosin acquired 350,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was purchased at an average price of $13.40 per share, for a total transaction of $4,690,000.00. Following the acquisition, the insider now directly owns 6,023,676 shares in the company, valued at $80,717,258.40. The disclosure for this purchase can be found here. Insiders sold a total of 36,306 shares of company stock worth $455,203 over the last ninety days. 4.40% of the stock is owned by company insiders.

Institutional Trading of Cardlytics

Several hedge funds have recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC raised its holdings in shares of Cardlytics by 13.8% during the first quarter. Susquehanna Fundamental Investments LLC now owns 31,536 shares of the company’s stock valued at $457,000 after buying an additional 3,836 shares during the last quarter. ClariVest Asset Management LLC bought a new stake in Cardlytics during the 1st quarter valued at $707,000. Brooktree Capital Management boosted its position in Cardlytics by 18.0% during the 1st quarter. Brooktree Capital Management now owns 138,970 shares of the company’s stock worth $2,014,000 after acquiring an additional 21,150 shares during the period. Shikiar Asset Management Inc. grew its stake in shares of Cardlytics by 36.2% in the first quarter. Shikiar Asset Management Inc. now owns 40,175 shares of the company’s stock worth $582,000 after purchasing an additional 10,675 shares in the last quarter. Finally, Check Capital Management Inc. CA grew its stake in shares of Cardlytics by 83.1% in the first quarter. Check Capital Management Inc. CA now owns 42,475 shares of the company’s stock worth $615,000 after purchasing an additional 19,275 shares in the last quarter. Institutional investors own 68.10% of the company’s stock.

Cardlytics Stock Performance

Shares of CDLX stock traded down $5.89 on Thursday, hitting $8.71. 6,229,813 shares of the stock traded hands, compared to its average volume of 1,516,471. The company’s fifty day moving average is $12.51 and its 200 day moving average is $9.74. Cardlytics has a 1-year low of $4.94 and a 1-year high of $20.52. The company has a market capitalization of $419.60 million, a PE ratio of -2.40 and a beta of 1.50. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.31 and a quick ratio of 1.31.

Cardlytics (NASDAQ:CDLX) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.14) earnings per share (EPS) for the quarter. Cardlytics had a negative return on equity of 25.38% and a negative net margin of 43.56%. The business had revenue of $89.17 million during the quarter.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CDLX. Lake Street Capital increased their price target on Cardlytics from $13.00 to $18.00 and gave the company a “buy” rating in a report on Friday, March 15th. Needham & Company LLC dropped their price target on shares of Cardlytics from $17.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Craig Hallum raised shares of Cardlytics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $10.00 to $18.00 in a report on Friday, March 15th.

Cardlytics Company Profile

Cardlytics, Inc operates an advertising platform in the United States and the United Kingdom. It offers Cardlytics platform, a proprietary native bank advertising channel that enables marketers to reach customers through their network of financial institution partners through digital channels, such as online, mobile applications, email, and various real-time notifications; and Bridg platform, a customer data platform which utilizes point-of-sale data and enables marketers to perform analytics and targeted loyalty marketing, as well as measure the impact of their marketing.