Fluent Inc (NASDAQ:FLNT) saw an uptick in trading volume on Thursday following a stronger than expected earnings report. 3,602,977 shares changed hands during 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 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. Fluent had a negative return on equity of 7.44% and a negative net margin of 19.23%. The company had revenue of $66.54 million for the quarter, compared to analysts’ expectations of $60.52 million.
Several research firms recently commented on FLNT. Zacks Investment Research raised Fluent from a “hold” rating to a “buy” rating and set a $2.50 price objective on the stock in a research report on Thursday, August 9th. Barrington Research reaffirmed a “buy” rating and set a $4.00 price objective on shares of Fluent in a research report on Thursday.
In other Fluent news, 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 value of $819,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Matthew Conlin bought 25,000 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was purchased at an average cost of $2.07 per share, for a total transaction of $51,750.00. The disclosure for this purchase can be found here. Insiders acquired 70,000 shares of company stock worth $157,300 over the last three months. Insiders own 18.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of FLNT. WealthTrust Axiom LLC purchased a new position in shares of Fluent during the 2nd quarter valued at about $196,000. Bank of New York Mellon Corp purchased a new position in shares of Fluent during the 2nd quarter valued at about $272,000. NF Trinity Capital Hong Kong Ltd purchased a new position in shares of Fluent during the 2nd quarter valued at about $477,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Fluent during the 2nd quarter valued at about $176,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Fluent during the 2nd quarter valued at about $409,000. 11.72% of the stock is currently owned by hedge funds and other institutional investors.
The company has a debt-to-equity ratio of 0.29, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a market cap of $188.98 million, a price-to-earnings ratio of -4.53 and a beta of 0.38.
About Fluent (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.
Featured Story: Fundamental Analysis
Receive News & Ratings for Fluent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fluent and related companies with MarketBeat.com's FREE daily email newsletter.