Fluent (NASDAQ:FLNT) Trading Up 0.3% – Here’s What Happened

Shares of Fluent, Inc. (NASDAQ:FLNT) traded up 0.3% on Thursday . The company traded as high as $3.22 and last traded at $3.05. 93,730 shares traded hands during trading, an increase of 170% from the average daily volume of 34,665 shares. The stock had previously closed at $3.04.

Analyst Ratings Changes

FLNT has been the topic of several recent research reports. Canaccord Genuity Group set a $4.50 price target on Fluent and gave the stock a “hold” rating in a report on Tuesday, August 11th. Lake Street Capital reaffirmed a “buy” rating and set a $5.50 target price (up from $5.00) on shares of Fluent in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $5.00.

Fluent Trading Up 0.3%

The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.64. The firm’s 50-day moving average price is $3.67 and its 200 day moving average price is $3.28. The company has a market capitalization of $96.41 million, a P/E ratio of -3.96 and a beta of 0.75.

Fluent (NASDAQ:FLNT) last posted its earnings results on Monday, August 10th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The company had revenue of $48.45 million for the quarter, compared to analyst estimates of $44.64 million. Fluent had a negative net margin of 11.48% and a negative return on equity of 155.09%. As a group, equities research analysts predict that Fluent, Inc. will post -0.52 earnings per share for the current year.

Insider Activity

In other Fluent news, major shareholder Global Value Investment Corp. bought 61,368 shares of the business’s stock in a transaction on Friday, June 12th. The stock was purchased at an average price of $2.75 per share, for a total transaction of $168,762.00. Following the completion of the transaction, the insider directly owned 3,151,044 shares of the company’s stock, valued at $8,665,371. This trade represents a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Geygan acquired 60,183 shares of Fluent stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average cost of $2.75 per share, with a total value of $165,503.25. Following the purchase, the director owned 3,100,838 shares of the company’s stock, valued at $8,527,304.50. This represents a 1.98% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 125,559 shares of company stock worth $346,254. Insiders own 38.40% of the company’s stock.

Institutional Investors Weigh In On Fluent

A number of hedge funds have recently made changes to their positions in the business. Corient Private Wealth LP purchased a new stake in shares of Fluent in the 2nd quarter worth about $4,933,000. Tieton Capital Management LLC bought a new stake in shares of Fluent in the second quarter worth approximately $4,387,000. Sei Investments Co. raised its holdings in shares of Fluent by 117.5% during the first quarter. Sei Investments Co. now owns 508,110 shares of the company’s stock valued at $1,606,000 after purchasing an additional 274,533 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Fluent by 44.7% during the fourth 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 during the last quarter. Finally, Millennium Management LLC bought a new position in Fluent during the fourth quarter valued at approximately $84,000. 23.33% of the stock is currently owned by 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.