In recent transactions reported to the Securities and Exchange Commission, Clifford Sosin, a significant shareholder in Cardlytics, Inc. (NASDAQ:CDLX), sold a total of 31,300 shares of the company's common stock. These sales were executed on December 30 and 31, 2024, with per-share prices ranging from $3.7661 to $3.7784. The total value of these transactions amounted to $118,071. The sales occurred as Cardlytics trades near $3.73, significantly below its 52-week high of $20.52. According to InvestingPro analysis, the stock appears slightly undervalued, despite facing notable challenges with its debt burden.
Following these sales, Sosin retains ownership of 6,368,910 shares indirectly through Sosin Master, L.P. and CSWR Partners, L.P. Additionally, he holds $21.3 million in principal amount of Cardlytics' 4.25% Convertible Senior Notes due 2029. These notes have a conversion rate of 55.4939 shares per $1,000 principal amount, although the issuer may opt to settle conversions in cash, shares, or a combination of both. With a market capitalization of $189.57 million and total debt of $221.94 million, InvestingPro subscribers can access 10 additional key insights about Cardlytics' financial health and future prospects through the comprehensive Pro Research Report.
In other recent news, Cardlytics has reported its third-quarter financial results for 2024, emphasizing its expectations for improved performance in the fourth quarter. The company has outlined plans to establish new partnerships with financial institutions and to implement operational and product enhancements. These developments, however, are forward-looking statements subject to risks that could affect actual outcomes. Cardlytics has acknowledged these potential risk factors, while expressing optimism about its financial performance for the upcoming quarter. The firm also anticipates that the introduction of new partnerships and the rollout of operational and product initiatives will bolster its market position. Detailed financial information, including non-GAAP measures, can be found in the company's recent press release and SEC filings. As these are recent developments, investors are encouraged to monitor Cardlytics' progress in these areas.
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