Fluent (NASDAQ:FLNT) Research Coverage Started at Lake Street Capital

Lake Street Capital assumed coverage on shares of Fluent (NASDAQ:FLNT) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $5.00 price objective on the stock.

Separately, Canaccord Genuity Group lifted their target price on Fluent from $2.50 to $3.50 and gave the company a “hold” rating in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.25.

Fluent Trading Up 4.5%

NASDAQ:FLNT opened at $3.22 on Thursday. The stock’s 50 day moving average price is $3.32 and its 200 day moving average price is $2.79. The company has a market capitalization of $96.02 million, a PE ratio of -2.95 and a beta of 1.02. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.21. Fluent has a 52-week low of $1.50 and a 52-week high of $4.15.

Fluent (NASDAQ:FLNT) last released its quarterly earnings results on Monday, March 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The firm had revenue of $61.82 million for the quarter, compared to analysts’ expectations of $62.85 million. Fluent had a negative return on equity of 119.04% and a negative net margin of 13.01%. On average, research analysts anticipate that Fluent will post -0.48 EPS for the current year.

Insider Activity

In related news, major shareholder Global Value Investment Corp. purchased 65,148 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $3.47 per share, with a total value of $226,063.56. Following the completion of the acquisition, the insider directly owned 3,089,676 shares in the company, valued at $10,721,175.72. The trade was a 2.15% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Geygan purchased 65,148 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $3.47 per share, with a total value of $226,063.56. Following the completion of the acquisition, the director owned 3,040,655 shares of the company’s stock, valued at approximately $10,551,072.85. The trade was a 2.19% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 164,835 shares of company stock worth $572,666 over the last quarter. Insiders own 43.51% of the company’s stock.

Hedge Funds Weigh In On Fluent

Institutional investors have recently added to or reduced their stakes in the business. Mink Brook Asset Management LLC acquired a new position in Fluent in the third quarter valued at $634,000. Geode Capital Management LLC increased its stake in Fluent by 44.7% in 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. Susquehanna International Group LLP grew 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 valued at $89,000 after acquiring an additional 15,777 shares during the period. Finally, Millennium Management LLC purchased a new stake in Fluent during the fourth quarter valued at about $84,000. 23.33% of the stock is currently 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.