Key Points
- Global Value Investment Corp., a major shareholder in Fluent, bought 61,368 shares at $2.75 each on June 12, increasing its stake by 1.99% to 3,151,044 shares worth about $8.67 million.
- Fluent stock was up 3.1% in Wednesday trading, opening at $2.69, while the company’s shares have ranged from a 12-month low of $1.70 to a high of $4.15.
- On the earnings front, Fluent recently reported a smaller-than-expected loss of $0.19 per share, though revenue of $44.85 million fell short of analyst estimates; analysts currently rate the stock Moderate Buy with a $4.25 price target.
Fluent, Inc. (NASDAQ:FLNT - Get Free Report) major shareholder Global Value Investment Corp. purchased 61,368 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average price of $2.75 per share, for a total transaction of $168,762.00. Following the completion of the purchase, the insider directly owned 3,151,044 shares of the company's stock, valued at approximately $8,665,371. This trade represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Fluent Trading Up 3.1%
Shares of FLNT opened at $2.69 on Wednesday. Fluent, Inc. has a 12-month low of $1.70 and a 12-month high of $4.15. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $80.22 million, a price-to-earnings ratio of -3.09 and a beta of 0.89. The stock's 50-day moving average price is $2.81 and its 200 day moving average price is $2.94.
Fluent (NASDAQ:FLNT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.02. Fluent had a negative return on equity of 132.41% and a negative net margin of 12.22%.The firm had revenue of $44.85 million for the quarter, compared to analyst estimates of $48.80 million. As a group, research analysts predict that Fluent, Inc. will post -0.48 earnings per share for the current year.
Institutional Investors Weigh In On Fluent
Large investors have recently modified their holdings of the stock. Mink Brook Asset Management LLC bought a new stake in shares of Fluent in the 3rd quarter valued at approximately $634,000. Geode Capital Management LLC grew its stake in shares of Fluent by 44.7% in the 4th quarter. Geode Capital Management LLC now owns 144,713 shares of the company's stock valued at $347,000 after purchasing an additional 44,684 shares during the period. Susquehanna International Group LLP grew its stake in shares of Fluent by 65.3% in the 3rd quarter. Susquehanna International Group LLP now owns 39,947 shares of the company's stock valued at $89,000 after purchasing an additional 15,777 shares during the period. Millennium Management LLC bought a new stake in shares of Fluent in the 4th quarter valued at approximately $84,000. Finally, Sei Investments Co. grew its stake in shares of Fluent by 117.5% in the 1st quarter. Sei Investments Co. now owns 508,110 shares of the company's stock valued at $1,606,000 after purchasing an additional 274,533 shares during the period. 23.33% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Lake Street Capital assumed coverage on Fluent in a research note on Thursday, April 23rd. They set a "buy" rating and a $5.00 price target on the stock. Canaccord Genuity Group upped their price objective on Fluent from $2.50 to $3.50 and gave the company a "hold" rating in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Fluent has an average rating of "Moderate Buy" and a consensus price target of $4.25.
View Our Latest Analysis on FLNT
About Fluent
(
Get Free Report)
Fluent, Inc is a performance marketing and customer acquisition platform that helps consumer brands drive leads and sales through data-driven digital campaigns. The company specializes in direct-response marketing, executing campaigns across multiple channels including email, display, paid search, social media and native advertising. By focusing on measurable outcomes such as cost per acquisition and return on ad spend, Fluent tailors solutions to meet the specific objectives of its clients.
The company's proprietary technology leverages first-party data sourced from its network of consumer-facing digital properties and programmatic partnerships.
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