Insider Selling: Fluent (NASDAQ:FLNT) CFO Sells $24,874.36 in Stock

Fluent, Inc. (NASDAQ:FLNT) CFO Ryan Macnab Perfit sold 9,604 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $2.59, for a total transaction of $24,874.36. Following the completion of the transaction, the chief financial officer owned 19,334 shares in the company, valued at approximately $50,075.06. This represents a 33.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Fluent Stock Performance

Shares of FLNT stock opened at $2.02 on Friday. The firm’s 50 day moving average price is $3.06 and its 200-day moving average price is $2.89. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.95 and a current ratio of 0.95. Fluent, Inc. has a one year low of $1.69 and a one year high of $4.15. The firm has a market cap of $60.23 million, a P/E ratio of -2.32 and a beta of 1.03.

Fluent (NASDAQ:FLNT) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.02. Fluent had a negative net margin of 12.22% and a negative return on equity of 132.41%. The firm had revenue of $44.85 million for the quarter, compared to analyst estimates of $48.80 million. As a group, equities research analysts predict that Fluent, Inc. will post -0.48 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Lake Street Capital assumed coverage on shares of Fluent in a report on Thursday, April 23rd. They issued a “buy” rating and a $5.00 price objective on the stock. Canaccord Genuity Group upped their price objective on shares of Fluent from $2.50 to $3.50 and gave the stock a “hold” rating in a report on Tuesday, March 10th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Fluent presently has an average rating of “Moderate Buy” and a consensus target price of $4.25.

Institutional Investors Weigh In On Fluent

Hedge funds have recently added to or reduced their stakes in the business. Mink Brook Asset Management LLC acquired a new stake in Fluent during the 3rd quarter worth approximately $634,000. Geode Capital Management LLC lifted its holdings in Fluent by 44.7% during the 4th quarter. Geode Capital Management LLC now owns 144,713 shares of the company’s stock worth $347,000 after buying an additional 44,684 shares in the last quarter. Susquehanna International Group LLP lifted its holdings in Fluent by 65.3% during the 3rd quarter. Susquehanna International Group LLP now owns 39,947 shares of the company’s stock worth $89,000 after buying an additional 15,777 shares in the last quarter. Millennium Management LLC acquired a new stake in Fluent during the 4th quarter worth approximately $84,000. Finally, Sei Investments Co. lifted its holdings in Fluent by 117.5% during the 1st quarter. Sei Investments Co. now owns 508,110 shares of the company’s stock worth $1,606,000 after buying an additional 274,533 shares in the last quarter. 23.33% of the stock is currently owned by institutional investors and hedge funds.

About Fluent

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.