Fluent (NASDAQ:FLNT) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Fluent beat quarterly expectations: The company reported an adjusted loss of $0.13 per share, $0.02 better than consensus, while revenue of $48.45 million exceeded estimates of $44.64 million. However, it remained unprofitable, with a negative net margin of 12.22%.
• Shares rose 5.7% to $4.27 following the results, near the company’s 12-month high of $4.36.
• Insiders purchased substantially more stock than they sold during the latest quarter, and insiders own 38.4% of Fluent. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $4.25, including a recent $5.00 target from Lake Street Capital.

Fluent (NASDAQ:FLNT - Get Free Report) posted its quarterly earnings data on Monday. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.02, FiscalAI reports. The company had revenue of $48.45 million during the quarter, compared to analysts' expectations of $44.64 million. Fluent had a negative net margin of 12.22% and a negative return on equity of 132.41%.

Fluent Trading Up 5.7%

Shares of NASDAQ:FLNT traded up $0.23 during mid-day trading on Monday, hitting $4.27. The stock had a trading volume of 45,125 shares, compared to its average volume of 63,428. The company's 50 day moving average is $3.27 and its 200-day moving average is $3.24. The company has a market cap of $127.33 million, a PE ratio of -4.91 and a beta of 0.76. Fluent has a 12-month low of $1.70 and a 12-month high of $4.36. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.95 and a current ratio of 0.95.

Insider Buying and Selling at Fluent

In related news, Director James Geygan purchased 60,183 shares of the company's stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of $2.75 per share, with a total value of $165,503.25. Following the completion of the purchase, the director owned 3,100,838 shares of the company's stock, valued at $8,527,304.50. The trade was a 1.98% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Donald Huntley Patrick sold 19,230 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $2.58, for a total value of $49,613.40. Following the sale, the chief executive officer directly owned 312,455 shares of the company's stock, valued at $806,133.90. The trade was a 5.80% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have purchased 132,736 shares of company stock worth $358,260 and have sold 29,120 shares worth $75,197. Company insiders own 38.40% of the company's stock.

Institutional Investors Weigh In On Fluent

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of Fluent by 44.7% during the 4th quarter. Geode Capital Management LLC now owns 144,713 shares of the company's stock worth $347,000 after acquiring an additional 44,684 shares during the period. Millennium Management LLC acquired a new position in Fluent in the fourth quarter worth about $84,000. Finally, Susquehanna International Group LLP lifted its stake in Fluent by 65.3% during the third quarter. Susquehanna International Group LLP now owns 39,947 shares of the company's stock worth $89,000 after purchasing an additional 15,777 shares during the period. Institutional investors own 23.33% of the company's stock.

Analyst Ratings Changes

Separately, Lake Street Capital initiated coverage on Fluent in a report on Thursday, April 23rd. They issued a "buy" rating and a $5.00 price objective for the company. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $4.25.

Fluent Company Profile

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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