Tallon Kerry Patrick Makes New Investment in Cardlytics, Inc. (NASDAQ:CDLX)

Tallon Kerry Patrick bought a new position in Cardlytics, Inc. (NASDAQ:CDLX) in the 4th quarter, Holdings Channel reports. The firm bought 10,000 shares of the company’s stock, valued at approximately $37,000.

Several other hedge funds have also made changes to their positions in CDLX. Bank of New York Mellon Corp lifted its holdings in shares of Cardlytics by 15.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 135,924 shares of the company’s stock worth $1,116,000 after buying an additional 18,179 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Cardlytics by 711.9% in the 2nd quarter. Renaissance Technologies LLC now owns 351,035 shares of the company’s stock worth $2,882,000 after buying an additional 307,800 shares during the period. Pekin Hardy Strauss Inc. purchased a new stake in shares of Cardlytics in the 2nd quarter worth $243,000. XTX Topco Ltd purchased a new stake in shares of Cardlytics during the 2nd quarter worth $107,000. Finally, Marshall Wace LLP lifted its stake in shares of Cardlytics by 6.8% during the 2nd quarter. Marshall Wace LLP now owns 814,281 shares of the company’s stock worth $6,685,000 after purchasing an additional 52,081 shares during the last quarter. 68.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CDLX. Evercore ISI began coverage on Cardlytics in a research note on Friday, October 11th. They set an “in-line” rating and a $4.00 price objective for the company. Craig Hallum upgraded Cardlytics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cardlytics in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.92.

Insider Activity

In other news, CEO Amit Gupta sold 22,607 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $3.85, for a total value of $87,036.95. Following the transaction, the chief executive officer now directly owns 178,519 shares of the company’s stock, valued at approximately $687,298.15. This represents a 11.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alexis Desieno sold 25,118 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $3.43, for a total value of $86,154.74. Following the completion of the transaction, the chief financial officer now directly owns 116,481 shares in the company, valued at $399,529.83. This represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,007 shares of company stock valued at $251,297. Company insiders own 4.40% of the company’s stock.

Cardlytics Trading Up 7.7 %

Shares of NASDAQ:CDLX opened at $3.06 on Friday. The business’s 50-day moving average is $3.72 and its 200 day moving average is $4.58. Cardlytics, Inc. has a 1 year low of $2.76 and a 1 year high of $20.52. The firm has a market capitalization of $155.52 million, a P/E ratio of -0.50 and a beta of 1.53. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.18 and a quick ratio of 1.18.

Cardlytics (NASDAQ:CDLX) last announced its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.18. The company had revenue of $67.06 million for the quarter, compared to analyst estimates of $57.77 million. Cardlytics had a negative return on equity of 110.67% and a negative net margin of 93.55%. The firm’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.26) EPS. On average, research analysts predict that Cardlytics, Inc. will post -1.52 earnings per share for the current fiscal year.

About Cardlytics

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.