Ergoteles LLC Trims Position in Fluent, Inc. (NASDAQ:FLNT)

Ergoteles LLC decreased its position in shares of Fluent, Inc. (NASDAQ:FLNT – Get Rating) by 6.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 178,208 shares of the company’s stock after selling 12,945 shares during the period. Ergoteles LLC’s holdings in Fluent were worth $241,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FLNT. Panagora Asset Management Inc. purchased a new position in Fluent during the first quarter worth approximately $28,000. AE Wealth Management LLC purchased a new position in Fluent during the third quarter worth approximately $28,000. Global Wealth Management Investment Advisory Inc. purchased a new position in Fluent during the third quarter worth approximately $28,000. Prudential Financial Inc. purchased a new position in Fluent during the second quarter worth approximately $34,000. Finally, BNP Paribas Arbitrage SA raised its stake in Fluent by 204.5% during the first quarter. BNP Paribas Arbitrage SA now owns 56,077 shares of the company’s stock worth $117,000 after purchasing an additional 37,660 shares during the period. Hedge funds and other institutional investors own 26.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on FLNT. Canaccord Genuity Group cut their price target on shares of Fluent from $5.00 to $4.00 in a research note on Tuesday, November 8th. StockNews.com initiated coverage on shares of Fluent in a research note on Sunday. They set a “buy” rating on the stock.

Fluent Price Performance

Fluent stock opened at $1.43 on Monday. Fluent, Inc. has a 52-week low of $0.96 and a 52-week high of $2.36. The firm has a fifty day moving average of $1.40 and a 200-day moving average of $1.36. The firm has a market capitalization of $114.33 million, a P/E ratio of -2.27 and a beta of 2.37. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.23.

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.