Insider Buying: Fluent (NASDAQ:FLNT) Major Shareholder Acquires 61,368 Shares of Stock

Fluent, Inc. (NASDAQ:FLNT) major shareholder Global Value Investment Corp. purchased 61,368 shares of the stock in a transaction dated Friday, June 12th. The stock was purchased at an average cost 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. The trade was a 1.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Fluent Price Performance

Shares of NASDAQ:FLNT traded up $0.08 during trading on Tuesday, reaching $2.69. The stock had a trading volume of 83,544 shares, compared to its average volume of 73,977. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.95 and a current ratio of 0.95. The business has a fifty day moving average price of $2.82 and a 200-day moving average price of $2.93. The stock has a market cap of $80.22 million, a PE ratio of -3.09 and a beta of 0.89. Fluent, Inc. has a 1-year low of $1.70 and a 1-year high of $4.15.

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

Hedge Funds Weigh In On Fluent

A number of institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. lifted 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 in the last quarter. Mink Brook Asset Management LLC purchased a new position in Fluent during the third quarter worth approximately $634,000. Geode Capital Management LLC lifted 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 in the last quarter. Susquehanna International Group LLP lifted 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 in the last quarter. Finally, Millennium Management LLC purchased a new stake in Fluent in the fourth quarter valued at $84,000. Hedge funds and other institutional investors own 23.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FLNT shares. Lake Street Capital started coverage on Fluent in a research report on Thursday, April 23rd. They set a “buy” rating and a $5.00 price objective on the stock. Canaccord Genuity Group lifted their price objective on Fluent from $2.50 to $3.50 and gave the stock a “hold” rating in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.