Stock Traders Buy High Volume of Call Options on Cardlytics (NASDAQ:CDLX)
Cardlytics, Inc. (NASDAQ:CDLX) experienced a significant increase in call options trading, with 4,383 options purchased, marking a 255% rise from the average volume. The stock rose 15.5% to $3.18, with analysts maintaining a "Moderate Buy" rating and a price target of $2.25. CEO Amit Gupta sold 68,685 shares, reducing his ownership by 12.26%. Institutional investors hold 68.10% of the stock, with notable increases in stakes from several hedge funds. Cardlytics operates an advertising platform in the U.S. and U.K.
Cardlytics, Inc. (NASDAQ:CDLX - Get Free Report) saw some unusual options trading on Friday. Traders acquired 4,383 call options on the stock. This is an increase of 255% compared to the typical volume of 1,235 call options.
Wall Street Analysts Forecast Growth
Separately, Evercore ISI dropped their price objective on Cardlytics from $3.00 to $2.00 and set an "in-line" rating for the company in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $2.25.
Get Our Latest Analysis on Cardlytics
Cardlytics Trading Up 15.5%
Cardlytics stock traded up $0.43 during trading hours on Friday, reaching $3.18. 21,667,849 shares of the company's stock traded hands, compared to its average volume of 2,012,585. The firm's 50 day moving average is $1.51 and its 200-day moving average is $1.71. Cardlytics has a fifty-two week low of $0.85 and a fifty-two week high of $5.24. The firm has a market capitalization of $169.36 million, a price-to-earnings ratio of -0.85 and a beta of 1.19. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.16 and a current ratio of 1.16.
Insider Buying and Selling at Cardlytics
In related news, CEO Amit Gupta sold 68,685 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $1.12, for a total value of $76,927.20. Following the completion of the transaction, the chief executive officer directly owned 491,759 shares of the company's stock, valued at $550,770.08. This trade represents a 12.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 156,265 shares of company stock valued at $187,768 over the last three months. 4.40% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC boosted its stake in Cardlytics by 263.0% during the 2nd quarter. Jane Street Group LLC now owns 162,427 shares of the company's stock worth $267,000 after acquiring an additional 117,687 shares during the last quarter. Sand Hill Global Advisors LLC bought a new position in shares of Cardlytics during the 2nd quarter valued at about $35,000. Marshall Wace LLP bought a new position in shares of Cardlytics during the 2nd quarter valued at about $59,000. XTX Topco Ltd lifted its holdings in shares of Cardlytics by 143.5% during the 2nd quarter. XTX Topco Ltd now owns 85,971 shares of the company's stock valued at $141,000 after purchasing an additional 50,663 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd bought a new position in shares of Cardlytics during the 2nd quarter valued at about $32,000. Institutional investors own 68.10% of the company's stock.
Cardlytics Company Profile
(Get Free Report)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.
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