Shares of Fluent Inc (NASDAQ:FLNT) saw an uptick in trading volume on Thursday following a stronger than expected earnings report. 3,602,977 shares were traded during mid-day trading, an increase of 490% from the previous session’s volume of 610,659 shares.The stock last traded at $3.30 and had previously closed at $2.51.
The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Fluent had a negative net margin of 19.23% and a negative return on equity of 7.44%. The business had revenue of $66.54 million during the quarter, compared to the consensus estimate of $60.52 million.
A number of research firms recently issued reports on FLNT. Barrington Research restated a “buy” rating and set a $4.00 price objective on shares of Fluent in a report on Thursday. Zacks Investment Research downgraded shares of Fluent from a “buy” rating to a “hold” rating in a report on Friday, August 10th.
In related news, insider Matthew Conlin acquired 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was acquired at an average price of $2.07 per share, for a total transaction of $51,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Michael Brauser sold 350,000 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $2.34, for a total transaction of $819,000.00. The disclosure for this sale can be found here. Insiders have purchased 70,000 shares of company stock valued at $157,300 in the last 90 days. 18.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Fluent during the second quarter worth about $4,066,000. Cambridge Investment Research Advisors Inc. bought a new position in Fluent during the second quarter worth about $2,487,000. Akanthos Capital Management LLC bought a new position in Fluent during the second quarter worth about $1,470,000. Northern Trust Corp bought a new position in Fluent during the second quarter worth about $859,000. Finally, NF Trinity Capital Hong Kong Ltd bought a new position in Fluent during the second quarter worth about $477,000. Institutional investors and hedge funds own 11.72% of the company’s stock.
The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $188.98 million, a price-to-earnings ratio of -4.53 and a beta of 0.38.
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Fluent Company Profile (NASDAQ:FLNT)
Fluent, Inc provides data-driven performance marketing and customer acquisition services primarily in the United States. It develops custom audiences and operates performance marketing campaigns on behalf of advertising partners. The company offers data acquisition solutions that include Connect, which enables marketers to acquire consumer data and marketing consent across its network of proprietary Websites; and ReConnect that enables marketers offer consumers the ability to opt into marketing programs outside of the confines of own Websites.
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