New Alert: Cogint, Inc. (NASDAQ: COGT)
Last Close: $4.10
Good Morning Member,
Cogint, Inc. (COGT) is our new Nasdaq alert that has strong potential for upside from current levels. COGT released earnings earlier this month on November 8th and since, the stock has pulled back to very attractive levels.
The company posted record revenues in Q3 earnings where its net loss widened ahead of a completed business combination with BlueFocus. COGT’s Net loss grew from a year ago and although EBITDA rose 84%, it missed expectations by .4M. These factors are likely the reason for the pullback since earnings and could be setting up as a great opportunity at current levels.
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’s chart is also setting up very nicely for a possible trend reversal to the upside. The stock is coming off of oversold levels and has an RSI of 36 on the daily chart. The last time the chart hit oversold levels in June, it made a major bounce from the $4 level to the $5.50 range in just over a month.
COGT recently bounced from the $3.70 and $3.80 region and looks to be making a possible trend reversal to the upside. The longer lower wicks on these candles indicate near term support at these levels. At $4.10, COGT is below its 20 SMA of $4.44 and has a 50 SMA of $4.74. A break of the 20 SMA could increase the potential for a near term breakout.
Below is the 6 month daily chart on COGT and make sure to continue reading below for our key highlights on Cogint, Inc. (COGT).
COGT’s chart looks due for a possible bounce coming off of oversold levels and the company has strong fundamentals to go with it, so make sure to start your research now.
- 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.
- In Q3, COGT generated on average over 850,000 consumer registrations and over 8.8 million compiled survey responses daily, with a recent record high of over 1 million registrations and over 10 million compiled survey responses in a single day.
- After successful launch of a Mobile App Install product offering and Pay Per Call ad format in 2016, revenue for these offerings continues to scale with $5.5 million and $1.9 million, respectively, for the third quarter 2017.
- 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.
Get started on your research now and learn more from this interview with CEO & Director of COGT, Derek Dubner.
Stock Market Leader
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