Russell Investments Group Ltd. Buys 8,089 Shares of Cardlytics Inc (CDLX)

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.

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About Cardlytics

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.

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Institutional Ownership by Quarter for Cardlytics (NASDAQ:CDLX)

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