GoodRx Holdings, Inc. (NASDAQ:GDRX) Sees Significant Decrease in Short Interest
by Danessa Lincoln · The Markets DailyGoodRx Holdings, Inc. (NASDAQ:GDRX – Get Free Report) was the target of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 9,212,055 shares, a decrease of 15.8% from the February 26th total of 10,935,571 shares. Currently, 2.8% of the company’s stock are sold short. Based on an average daily volume of 4,115,761 shares, the days-to-cover ratio is presently 2.2 days.
Institutional Investors Weigh In On GoodRx
Several hedge funds and other institutional investors have recently modified their holdings of GDRX. LSV Asset Management increased its position in GoodRx by 517.1% during the third quarter. LSV Asset Management now owns 2,354,581 shares of the company’s stock worth $9,960,000 after acquiring an additional 1,973,017 shares during the period. Prescott Group Capital Management L.L.C. bought a new stake in GoodRx in the 4th quarter valued at $4,812,000. Northwestern Mutual Wealth Management Co. grew its position in GoodRx by 10,242.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,502,666 shares of the company’s stock worth $4,072,000 after purchasing an additional 1,488,137 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of GoodRx during the 3rd quarter worth about $3,687,000. Finally, AQR Capital Management LLC increased its holdings in shares of GoodRx by 188.0% during the 4th quarter. AQR Capital Management LLC now owns 1,158,546 shares of the company’s stock worth $3,140,000 after purchasing an additional 756,209 shares during the period. Institutional investors and hedge funds own 63.77% of the company’s stock.
GoodRx Stock Performance
NASDAQ:GDRX traded up $0.06 during midday trading on Tuesday, reaching $1.97. The stock had a trading volume of 1,019,895 shares, compared to its average volume of 3,071,441. The stock has a market capitalization of $673.15 million, a P/E ratio of 21.84, a PEG ratio of 1.34 and a beta of 1.52. GoodRx has a 1-year low of $1.77 and a 1-year high of $5.81. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.61 and a quick ratio of 2.61. The firm’s fifty day simple moving average is $2.25 and its 200-day simple moving average is $2.94.
GoodRx (NASDAQ:GDRX – Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $194.79 million during the quarter, compared to analyst estimates of $193.27 million. GoodRx had a net margin of 3.82% and a return on equity of 9.31%. The business’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. On average, equities research analysts forecast that GoodRx will post 0.13 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on GDRX. Leerink Partners reiterated an “outperform” rating and set a $3.00 price objective on shares of GoodRx in a report on Thursday, February 26th. Mizuho reduced their price target on GoodRx from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Friday, February 27th. Jefferies Financial Group downgraded GoodRx to a “hold” rating in a research note on Thursday, January 22nd. Barclays assumed coverage on GoodRx in a report on Monday, December 8th. They set an “underweight” rating and a $3.00 price objective on the stock. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of GoodRx in a research note on Friday, February 27th. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, GoodRx presently has a consensus rating of “Hold” and an average target price of $3.98.
Get Our Latest Research Report on GoodRx
About GoodRx
GoodRx Holdings, Inc (NASDAQ: GDRX) operates a digital healthcare platform designed to help consumers compare prescription drug prices at retail pharmacies across the United States. Through its website and mobile applications, GoodRx aggregates pricing and discount information from a wide network of pharmacies, enabling users to access coupons and savings programs on both generic and brand-name medications. The platform also features price transparency tools that inform patients about cost variations and available discounts to alleviate the financial burden of prescription medications.
In addition to its core drug pricing service, GoodRx offers telehealth services under the GoodRx Care brand, providing virtual consultations for a range of non-emergency conditions and prescription needs.