Insider Selling: Fluent (NASDAQ:FLNT) CEO Sells $49,613.40 in Stock

Fluent, Inc. (NASDAQ:FLNT) CEO Donald Huntley Patrick sold 19,230 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $2.58, for a total transaction of $49,613.40. Following the transaction, the chief executive officer directly owned 312,455 shares of the company’s stock, valued at approximately $806,133.90. This trade represents a 5.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Donald Huntley Patrick also recently made the following trade(s):

• On Tuesday, May 26th, Donald Huntley Patrick sold 286 shares of Fluent stock. The stock was sold at an average price of $2.48, for a total transaction of $709.28.

Fluent Trading Down 6.9%

Shares of Fluent stock opened at $2.02 on Friday. 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 firm has a fifty day moving average price of $3.06 and a 200 day moving average price of $2.89. Fluent, Inc. has a 1 year low of $1.69 and a 1 year high of $4.15. The stock has a market cap of $60.23 million, a PE ratio of -2.32 and a beta of 1.03.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FLNT. Lake Street Capital began coverage on shares of Fluent in a research report on Thursday, April 23rd. They issued a “buy” rating and a $5.00 price objective for the company. Canaccord Genuity Group upped their price objective on shares of Fluent from $2.50 to $3.50 and gave the stock a “hold” rating in a research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.25.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Mink Brook Asset Management LLC acquired a new position in shares of Fluent in the third quarter worth about $634,000. Millennium Management LLC purchased a new stake in shares of Fluent during the fourth quarter worth about $84,000. Geode Capital Management LLC increased its stake in shares of Fluent by 44.7% during the fourth quarter. Geode Capital Management LLC now owns 144,713 shares of the company’s stock worth $347,000 after purchasing an additional 44,684 shares in the last quarter. Susquehanna International Group LLP increased its stake in shares of Fluent by 65.3% during the third quarter. Susquehanna International Group LLP now owns 39,947 shares of the company’s stock worth $89,000 after purchasing an additional 15,777 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Fluent by 117.5% during the first quarter. Sei Investments Co. now owns 508,110 shares of the company’s stock worth $1,606,000 after purchasing an additional 274,533 shares in the last quarter. Institutional investors and hedge funds 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.