Jacobs Levy Equity Management Inc. Buys 113,966 Shares of Cardlytics, Inc. (NASDAQ:CDLX)

Jacobs Levy Equity Management Inc. grew its stake in shares of Cardlytics, Inc. (NASDAQ:CDLX) by 56.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 317,644 shares of the company’s stock after buying an additional 113,966 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Cardlytics were worth $1,016,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Atom Investors LP bought a new stake in Cardlytics during the 3rd quarter worth $33,000. Canton Hathaway LLC grew its holdings in Cardlytics by 95.7% during the 2nd quarter. Canton Hathaway LLC now owns 4,500 shares of the company’s stock worth $37,000 after acquiring an additional 2,200 shares during the last quarter. SG Americas Securities LLC acquired a new position in Cardlytics in the 3rd quarter valued at approximately $45,000. Intech Investment Management LLC bought a new position in shares of Cardlytics during the third quarter valued at $47,000. Finally, BNP Paribas Financial Markets lifted its holdings in Cardlytics by 32.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 19,745 shares of the company’s stock worth $63,000 after buying an additional 4,796 shares during the period. 68.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Craig Hallum raised Cardlytics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Northland Capmk cut shares of Cardlytics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 16th. Bank of America lowered Cardlytics from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $4.00 to $3.50 in a research report on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cardlytics in a research note on Thursday, November 7th. Finally, Evercore ISI began coverage on shares of Cardlytics in a research report on Friday, October 11th. They set an “in-line” rating and a $4.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.92.

Insiders Place Their Bets

In other Cardlytics news, 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 sale, the chief financial officer now owns 116,481 shares in the company, valued at approximately $399,529.83. This trade represents a 17.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Amit Gupta sold 22,607 shares of Cardlytics stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $3.85, for a total transaction of $87,036.95. Following the transaction, the chief executive officer now directly owns 178,519 shares in the company, valued at approximately $687,298.15. This represents a 11.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,691 shares of company stock valued at $237,767. Corporate insiders own 4.40% of the company’s stock.

Cardlytics Trading Up 3.1 %

NASDAQ CDLX opened at $3.95 on Monday. Cardlytics, Inc. has a 52 week low of $2.89 and a 52 week high of $20.52. The business has a 50 day moving average price of $3.83 and a 200-day moving average price of $5.57. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 2.40. The company has a market cap of $200.75 million, a price-to-earnings ratio of -0.65 and a beta of 1.53.

Cardlytics (NASDAQ:CDLX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.18. Cardlytics had a negative net margin of 93.55% and a negative return on equity of 110.67%. The firm had revenue of $67.06 million during the quarter, compared to analysts’ expectations of $57.77 million. During the same period last year, the company earned ($0.26) earnings per share. The business’s revenue was down 15.1% on a year-over-year basis. As a group, equities analysts expect 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.