Fluent (NASDAQ:FLNT) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Fluent (NASDAQ:FLNT) from a strong sell rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “Fluent Inc. provides data-driven performance marketing services. The company is the trusted acquisition partner for both established and growing brands. It creates marketing programs which deliver better digital advertising experiences for consumers and measurable results for advertisers. Fluent Inc., formerly known as COGINT INC, is headquartered in New York City. “

Fluent stock opened at $1.86 on Wednesday. The company has a fifty day simple moving average of $2.16 and a 200-day simple moving average of $2.36. Fluent has a 12-month low of $1.69 and a 12-month high of $8.50. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.20.

Fluent (NASDAQ:FLNT) last announced its quarterly earnings results on Thursday, November 4th. The company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.05). Fluent had a negative return on equity of 6.48% and a negative net margin of 4.40%. The company had revenue of $85.86 million for the quarter, compared to analyst estimates of $84.79 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. On average, equities research analysts expect that Fluent will post -0.13 earnings per share for the current fiscal year.

In other Fluent news, President Matthew Conlin acquired 25,000 shares of the company’s stock in a transaction on Tuesday, November 30th. The shares were bought at an average cost of $1.86 per share, for a total transaction of $46,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Schulke purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, November 10th. The shares were purchased at an average price of $2.53 per share, for a total transaction of $25,300.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 45,000 shares of company stock worth $89,800 over the last quarter. 21.40% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its position in Fluent by 103.8% during the third quarter. BNP Paribas Arbitrage SA now owns 10,998 shares of the company’s stock worth $25,000 after purchasing an additional 5,602 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Fluent by 8.0% in the second quarter. Goldman Sachs Group Inc. now owns 94,546 shares of the company’s stock valued at $277,000 after purchasing an additional 7,036 shares during the period. Barclays PLC boosted its stake in shares of Fluent by 146.2% in the third quarter. Barclays PLC now owns 17,716 shares of the company’s stock valued at $41,000 after purchasing an additional 10,519 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Fluent by 4.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 281,750 shares of the company’s stock valued at $826,000 after purchasing an additional 11,960 shares during the period. Finally, LPL Financial LLC boosted its stake in Fluent by 140.3% during the 3rd quarter. LPL Financial LLC now owns 27,157 shares of the company’s stock valued at $62,000 after acquiring an additional 15,857 shares during the last quarter. 30.30% of the stock is owned by hedge funds and other institutional investors.

About Fluent

Fluent, Inc engages in the provision of digital marketing services. It operates through Fluent and All Other segments. The Fluent segment include delivering data and performance-based marketing executions. The All Other segment represent the operation results of AdParlor, LLC, a digital advertising solution for social media buying.

Further Reading: Bear Market

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