Insider Buying: Fluent (NASDAQ:FLNT) Major Shareholder Acquires 61,368 Shares of Stock

Fluent, Inc. (NASDAQ:FLNT) major shareholder Global Value Investment Corp. bought 61,368 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average cost of $2.75 per share, for a total transaction of $168,762.00. Following the completion of the acquisition, the insider owned 3,151,044 shares of the company’s stock, valued at $8,665,371. This trade represents a 1.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Fluent Stock Performance

Fluent stock traded up $0.08 during midday trading on Tuesday, hitting $2.69. 83,544 shares of the company were exchanged, compared to its average volume of 73,977. The firm has a market capitalization of $80.22 million, a PE ratio of -3.09 and a beta of 0.89. Fluent, Inc. has a fifty-two week low of $1.70 and a fifty-two week high of $4.15. The business has a fifty day simple moving average of $2.82 and a two-hundred day simple moving average of $2.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.95 and a current ratio of 0.95.

Fluent (NASDAQ:FLNT) last posted its earnings results on Wednesday, May 13th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $44.85 million for the quarter, compared to analyst estimates of $48.80 million. On average, sell-side analysts forecast that Fluent, Inc. will post -0.48 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on the company. Lake Street Capital assumed coverage on Fluent in a report on Thursday, April 23rd. They issued a “buy” rating and a $5.00 price objective on the stock. Canaccord Genuity Group raised their price objective on Fluent from $2.50 to $3.50 and gave the company a “hold” rating in a report on Tuesday, March 10th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Fluent has an average rating of “Moderate Buy” and a consensus target price of $4.25.

Institutional Trading of Fluent

Institutional investors have recently made changes to their positions in the company. Sei Investments Co. boosted its stake in shares of Fluent by 117.5% in the first quarter. Sei Investments Co. now owns 508,110 shares of the company’s stock worth $1,606,000 after acquiring an additional 274,533 shares during the last quarter. Mink Brook Asset Management LLC acquired a new stake in shares of Fluent in the third quarter worth approximately $634,000. Geode Capital Management LLC boosted its stake in shares of 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 during the last quarter. Susquehanna International Group LLP boosted its stake in shares of Fluent by 65.3% in the third quarter. Susquehanna International Group LLP now owns 39,947 shares of the company’s stock worth $89,000 after acquiring an additional 15,777 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Fluent in the fourth quarter worth approximately $84,000. 23.33% of the stock is owned by institutional investors and hedge funds.

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.