Fluent (NASDAQ:FLNT) Posts Quarterly Earnings Results, Hits Estimates

Fluent (NASDAQ:FLNT – Get Rating) posted its quarterly earnings results on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01), Yahoo Finance reports. The business had revenue of $84.66 million for the quarter, compared to analyst estimates of $89.34 million. Fluent had a positive return on equity of 1.83% and a negative net margin of 13.82%.

Fluent Trading Down 8.8 %

Shares of FLNT traded down $0.07 during midday trading on Friday, hitting $0.70. The stock had a trading volume of 102,446 shares, compared to its average volume of 159,810. The company has a 50 day simple moving average of $1.43 and a two-hundred day simple moving average of $1.34. Fluent has a twelve month low of $0.64 and a twelve month high of $2.36. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.01 and a current ratio of 2.01.

Institutional Trading of Fluent

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Fluent by 15.2% in the third quarter. Vanguard Group Inc. now owns 1,738,493 shares of the company’s stock valued at $2,347,000 after acquiring an additional 228,922 shares during the last quarter. Millennium Management LLC increased its position in Fluent by 288.9% during the second quarter. Millennium Management LLC now owns 1,484,426 shares of the company’s stock worth $1,766,000 after buying an additional 1,102,743 shares during the last quarter. State Street Corp increased its position in Fluent by 1.8% during the first quarter. State Street Corp now owns 753,085 shares of the company’s stock worth $1,566,000 after buying an additional 13,456 shares during the last quarter. Geode Capital Management LLC increased its position in Fluent by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 449,231 shares of the company’s stock worth $489,000 after buying an additional 8,091 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Fluent during the second quarter worth approximately $263,000. Institutional investors and hedge funds own 26.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Barrington Research lowered Fluent from an “outperform” rating to a “market perform” rating in a report on Thursday. StockNews.com assumed coverage on Fluent in a report on Thursday. They set a “buy” rating on the stock.

About Fluent

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