Insider Buying: Fluent (NASDAQ:FLNT) Major Shareholder Buys 65,148 Shares of Stock
by Sarita Garza · The Markets DailyFluent, Inc. (NASDAQ:FLNT – Get Free Report) major shareholder Global Value Investment Corp. bought 65,148 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was acquired at an average price of $3.47 per share, for a total transaction of $226,063.56. Following the completion of the purchase, the insider directly owned 3,089,676 shares in the company, valued at approximately $10,721,175.72. The trade was a 2.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Fluent Price Performance
Shares of FLNT traded up $0.25 during trading hours on Monday, reaching $3.36. 43,147 shares of the company’s stock traded hands, compared to its average volume of 31,429. The stock has a market cap of $99.59 million, a PE ratio of -3.08 and a beta of 0.94. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.18. The firm’s 50 day simple moving average is $3.34 and its 200-day simple moving average is $2.55. Fluent, Inc. has a 12 month low of $1.50 and a 12 month high of $4.00.
Fluent (NASDAQ:FLNT – Get Free Report) last posted its quarterly earnings data on Monday, March 9th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The company had revenue of $61.82 million during the quarter, compared to the consensus estimate of $62.85 million. Fluent had a negative return on equity of 115.19% and a negative net margin of 13.01%. Equities analysts expect that Fluent, Inc. will post -1.82 EPS for the current year.
Wall Street Analysts Forecast Growth
Separately, Canaccord Genuity Group raised their price objective on shares of Fluent from $2.50 to $3.50 and gave the company a “hold” rating in a research report on Tuesday, March 10th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.50.
Get Our Latest Report on Fluent
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. Mink Brook Asset Management LLC bought a new stake in shares of Fluent in the 3rd quarter worth approximately $634,000. Geode Capital Management LLC boosted 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 in the last quarter. Millennium Management LLC bought a new position in shares of Fluent during the 4th quarter valued at $84,000. Finally, Susquehanna International Group LLP raised its position in Fluent by 65.3% in the 3rd 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. 23.33% of the stock is owned by hedge funds and other institutional investors.
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.