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Matthew Conlin, Chief Customer Officer at Fluent, Inc. (NASDAQ:FLNT), recently acquired 10,000 shares of the company’s common stock. The purchase, valued at approximately $5,970, was executed at an average price of $0.597 per share. The transaction comes as Fluent, with a market capitalization of $45.4 million and annual revenue of $254.6 million, trades near its 52-week lows. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value estimate. This transaction, recorded on March 7, 2024, resulted in Conlin holding a total of 251,970 shares, indirectly owned through the Conlin Family Foundation Trust. The details were amended to correct previous errors in the transaction date and trust name. InvestingPro data shows the stock has declined 12.7% year-to-date, with the company’s overall Financial Health Score rated as WEAK. Discover more insights and 8 additional ProTips for FLNT in the comprehensive Pro Research Report, available exclusively to subscribers.
In other recent news, Fluent Inc. reported a 10% year-over-year decline in revenue for the fourth quarter of 2024, totaling $65.4 million. The company’s net loss for the quarter widened to $3.4 million, compared to $1.9 million in the same period last year. Despite these challenges, Fluent’s Commerce Media Solutions (CMS) segment showed a 139% increase in revenue for the quarter, contributing significantly to an annual revenue run rate surpassing $60 million. Additionally, Fluent has completed a private placement of pre-funded warrants, securing approximately $5 million in gross proceeds, which are earmarked for general corporate purposes. The company also amended its credit agreement, extending the deadline to raise at least $5 million by March 2025. Analyst firm Canaccord Genuity adjusted its price target for Fluent’s shares to $3.50 from $4.00, maintaining a Hold rating due to mixed financial results and financial uncertainties. Fluent is focused on stabilizing its Owned and Operated (O&O) segment while driving growth in its CMS division, projecting triple-digit growth in the latter for fiscal year 2025.
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