Millennium Management LLC Acquires New Holdings in Cardlytics, Inc. (NASDAQ:CDLX)

Millennium Management LLC bought a new position in shares of Cardlytics, Inc. (NASDAQ:CDLX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 144,238 shares of the company's stock, valued at approximately $535,000. Millennium Management LLC owned 0.28% of Cardlytics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDLX. Mirabella Financial Services LLP bought a new stake in Cardlytics during the fourth quarter worth $4,285,000. D. E. Shaw & Co. Inc. increased its holdings in Cardlytics by 97.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,131,505 shares of the company's stock valued at $4,198,000 after purchasing an additional 558,235 shares during the period. Rangeley Capital LLC bought a new position in shares of Cardlytics during the fourth quarter worth about $1,187,000. RBF Capital LLC lifted its position in shares of Cardlytics by 64.7% in the 4th quarter. RBF Capital LLC now owns 803,763 shares of the company's stock worth $2,982,000 after purchasing an additional 315,635 shares during the period. Finally, Natixis acquired a new position in Cardlytics in the fourth quarter valued at $462,000. 68.10% of the stock is owned by institutional investors and hedge funds.

Cardlytics Trading Down 6.4%

CDLX stock traded down $0.11 during midday trading on Thursday, hitting $1.60. The company had a trading volume of 452,796 shares, compared to its average volume of 970,268. The stock has a market cap of $84.00 million, a price-to-earnings ratio of -0.26 and a beta of 1.25. Cardlytics, Inc. has a 52 week low of $1.22 and a 52 week high of $9.78. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 2.40. The stock's 50 day moving average price is $1.72 and its 200 day moving average price is $2.63.

Wall Street Analyst Weigh In

CDLX has been the topic of a number of research reports. Evercore ISI dropped their price target on Cardlytics from $4.00 to $3.00 and set an "in-line" rating on the stock in a research note on Thursday, March 13th. Lake Street Capital lowered their price target on shares of Cardlytics from $3.00 to $2.50 and set a "hold" rating on the stock in a research report on Thursday, May 8th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Cardlytics in a research note on Thursday, March 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $3.50.

Cardlytics Company Profile

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.