Russell Investments Group Ltd. lifted its stake in Cardlytics Inc (NASDAQ:CDLX) by 16.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,603 shares of the company’s stock after buying an additional 8,089 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.28% of Cardlytics worth $1,416,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of CDLX. Schwab Charles Investment Management Inc. purchased a new position in Cardlytics during the second quarter worth approximately $214,000. BlackRock Inc. boosted its position in Cardlytics by 50.9% during the second quarter. BlackRock Inc. now owns 352,900 shares of the company’s stock worth $7,679,000 after purchasing an additional 119,064 shares in the last quarter. FMR LLC boosted its position in Cardlytics by 32.1% during the second quarter. FMR LLC now owns 1,894,196 shares of the company’s stock worth $41,218,000 after purchasing an additional 459,831 shares in the last quarter. Spark Investment Management LLC boosted its position in Cardlytics by 328.2% during the second quarter. Spark Investment Management LLC now owns 44,100 shares of the company’s stock worth $959,000 after purchasing an additional 33,800 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Cardlytics by 32.9% during the second quarter. Bank of New York Mellon Corp now owns 15,553 shares of the company’s stock worth $338,000 after purchasing an additional 3,846 shares in the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.
In other Cardlytics news, Director Polaris Venture Management Co. sold 150,000 shares of the stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $25.04, for a total transaction of $3,756,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Cardlytics stock opened at $13.51 on Friday. Cardlytics Inc has a 12 month low of $11.10 and a 12 month high of $28.29. The company has a market cap of $284.31 million and a price-to-earnings ratio of -1.68. The company has a quick ratio of 3.04, a current ratio of 3.04 and a debt-to-equity ratio of 0.91.
Cardlytics (NASDAQ:CDLX) last announced its earnings results on Tuesday, November 13th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.48. The firm had revenue of $34.58 million for the quarter, compared to analyst estimates of $37.62 million. Cardlytics’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Cardlytics Inc will post -2.08 EPS for the current fiscal year.
A number of brokerages have commented on CDLX. Zacks Investment Research cut Cardlytics from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. SunTrust Banks reissued a “buy” rating and set a $27.00 target price on shares of Cardlytics in a report on Tuesday, September 11th. Bank of America reissued a “hold” rating and set a $22.00 target price on shares of Cardlytics in a report on Friday, August 17th. JPMorgan Chase & Co. reduced their target price on Cardlytics from $31.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, November 14th. Finally, Morgan Stanley reduced their target price on Cardlytics from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, November 14th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Cardlytics currently has a consensus rating of “Buy” and an average target price of $23.25.
TRADEMARK VIOLATION WARNING: “Russell Investments Group Ltd. Buys 8,089 Shares of Cardlytics Inc (CDLX)” was first published by American Banking News and is the property of of American Banking News. If you are accessing this article on another site, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/12/08/russell-investments-group-ltd-buys-8089-shares-of-cardlytics-inc-cdlx.html.
Cardlytics, Inc operates a purchase intelligence platform in the United States and the United Kingdom. It operates in two segments, Cardlytics Direct and Other Platform Solutions. The company's platform is the Cardlytics Direct solution, a proprietary native bank advertising channel that enables marketers to reach consumers through their trusted and frequently visited online and mobile banking channels.
Featured Article: What are municipal bonds?
Want to see what other hedge funds are holding CDLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardlytics Inc (NASDAQ:CDLX).
Receive News & Ratings for Cardlytics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardlytics and related companies with MarketBeat.com's FREE daily email newsletter.