Ryan Macnab Perfit Sells 9,604 Shares of Fluent (NASDAQ:FLNT) Stock

Fluent, Inc. (NASDAQ:FLNT) CFO Ryan Macnab Perfit sold 9,604 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $2.59, for a total transaction of $24,874.36. Following the sale, the chief financial officer directly owned 19,334 shares in the company, valued at approximately $50,075.06. This trade represents a 33.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Fluent Price Performance

Shares of NASDAQ:FLNT opened at $2.17 on Friday. Fluent, Inc. has a 12-month low of $1.69 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 company has a market cap of $64.71 million, a P/E ratio of -2.49 and a beta of 1.03. The company’s fifty day moving average is $3.09 and its two-hundred day moving average is $2.89.

Fluent (NASDAQ:FLNT) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.02. Fluent had a negative net margin of 12.22% and a negative return on equity of 132.41%. The business had revenue of $44.85 million for the quarter, compared to the consensus estimate of $48.80 million. Equities analysts expect that Fluent, Inc. will post -0.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FLNT has been the topic of a number of research reports. Lake Street Capital initiated coverage on shares of Fluent in a research note on Thursday, April 23rd. They issued a “buy” rating and a $5.00 price target on the stock. Canaccord Genuity Group upped their price target on shares of Fluent from $2.50 to $3.50 and gave the stock a “hold” rating in a research note on Tuesday, March 10th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Fluent has an average rating of “Moderate Buy” and a consensus price target of $4.25.

Hedge Funds Weigh In On Fluent

Several hedge funds have recently bought and sold shares of the business. Sei Investments Co. increased its position in Fluent by 117.5% during the first quarter. Sei Investments Co. now owns 508,110 shares of the company’s stock worth $1,606,000 after buying an additional 274,533 shares during the last quarter. Mink Brook Asset Management LLC acquired a new position in Fluent during the third quarter worth $634,000. Geode Capital Management LLC increased its position in Fluent by 44.7% during the fourth quarter. Geode Capital Management LLC now owns 144,713 shares of the company’s stock worth $347,000 after buying an additional 44,684 shares during the last quarter. Susquehanna International Group LLP increased its position 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 buying an additional 15,777 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Fluent during the fourth quarter worth $84,000. 23.33% of the stock is owned by institutional investors and hedge funds.

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.