Good Morning Member,
Our Nasdaq alert from yesterday morning, Cogint, Inc. (COGT), opened the day at $4.20, hit a low of $4.10, and rallied to highs of $4.65 near the end of the day for more than 10% in gains so far. COGT closed the day near highs at $4.60 on strong volume and we will continue to monitor for a continued move to the upside. According to Yahoo Finance, COGT has an 17.99% short interest, which increases the chances of a short squeeze situation.
Also remember, COGT has had multiple Form 4’s filed over the past week all showing insider buying last week from the $3.95-$4.30 price range. These purchases were by the Executive Chairman, the Chief Information Officer, and Director Philip Frost, who is the company’s largest shareholder and is a multi-billionaire that has a known history of spotting undervalued companies.
COGT now has an RSI of 53 on the daily chart. At $4.60, COGT broke above its 20 SMA of $4.44 yesterday and has a 50 SMA of $4.74. A break of the 50 SMA could increase the potential for a continued rally. Below is the 6 month daily chart on COGT.
COGT also has strong fundamentals, so make sure you have done your research. We have included our key highlights below.
- In Q3, COGT entered into a business combination agreement with BlueFocus International, creating a world-class global marketing services company, with BlueFocus paying or refinancing Cogint’s existing debt upon closing and contributing to Cogint $100M in cash, Canadian-based marketing communications company Vision7 International, and U.K.-based global socially-led creative agency We Are Social. The combined company is expected to see 2018 revenues of more than $500M and EBITDA of more than $75M. The deal values Cogint’s performance marketing business, Fluent, at $415M.
- COGT reported Q3 Financial Results on November 8th. Overall revenues rose 10%; Information Services revenues grew 54% to $22.8M, while Performance Marketing revenues fell 8% to $34.4M. Information Services gross profit increased 182% to $10.1 million, a 44% gross profit margin. Performance Marketing gross profit increased 6% to $9.5 million, a 28% gross profit margin.“I’m very excited about our third quarter accomplishments. We worked tirelessly throughout the quarter to both negotiate and consummate our definitive transaction agreement with BlueFocus International and drive initiatives in our core businesses that create enormous value for our shareholders,” stated Derek Dubner, cogint’s CEO. “Notwithstanding the negative impact our business experienced from the hurricanes, we delivered record revenue of $57.2 million, up 10% versus third quarter of 2016, a dedicated focus on margin expansion resulting in gross profit margin of 34%, a 10 percentage point increase, and Adjusted EBITDA of $5.8 million, up 84%.”
- COGT has a Market Cap of $244M and a small float of around 21.8M.
- Insider ownership of 59% according to Yahoo Finance and we always take it as a bullish sign when Insiders have such a large stake in the performance of the company.There has been several insider purchases filed over the past week showing buying from major players in the company. No one knows more about the company and when these guys buy, it is definitely worth researching.
- COGT has leveraged the cross-functionality of their intelligent platforms, CORE™ and Agile Audience Engine™, to create a comprehensive marketing services solution for Fortune 500 consumer packaged goods companies, increasing client ROI while expanding their margin.
- Powered by our proprietary CORE™ data fusion platform, COGT launchedFOREWARN™, a real-time information solution, via mobile application, for the real estate industry, providing risk assessment and due diligence.
- COGT is composed of an experienced team that has helped to form the data analysis backbone of major companies, including TransUnion (TRU), Equifax (EFX), and LexisNexis, to name a few.
Learn more from this interview with CEO & Director of COGT, Derek Dubner.
Stock Market Leader
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