GoodRx Holdings, Inc. (NASDAQ:GDRX) Short Interest Up 10.0% in August

GoodRx Holdings, Inc. (NASDAQ:GDRX) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 9,030,000 shares, an increase of 10.0% from the August 15th total of 8,210,000 shares. Currently, 11.1% of the company’s stock are short sold. Based on an average daily volume of 1,370,000 shares, the days-to-cover ratio is currently 6.6 days.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GDRX shares. Morgan Stanley lifted their price objective on shares of GoodRx from $7.00 to $9.50 and gave the company an “equal weight” rating in a research note on Monday, June 10th. Citigroup cut their price target on GoodRx from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Raymond James raised shares of GoodRx from an “outperform” rating to a “strong-buy” rating and set a $10.00 price objective on the stock in a research note on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and issued a $10.00 target price on shares of GoodRx in a research note on Friday, August 16th. Finally, UBS Group dropped their price target on shares of GoodRx from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, GoodRx presently has an average rating of “Moderate Buy” and a consensus price target of $9.36.

Insiders Place Their Bets

In other news, major shareholder Equity Vii L.P. Spectrum sold 10,677 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $7.86, for a total value of $83,921.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GDRX. Rubric Capital Management LP purchased a new position in GoodRx during the fourth quarter worth about $39,348,000. Millennium Management LLC increased its position in shares of GoodRx by 36.5% in the second quarter. Millennium Management LLC now owns 4,121,939 shares of the company’s stock worth $32,151,000 after acquiring an additional 1,102,758 shares in the last quarter. American Century Companies Inc. purchased a new position in shares of GoodRx in the 2nd quarter valued at $18,183,000. Rip Road Capital Partners LP lifted its holdings in shares of GoodRx by 25.8% during the 4th quarter. Rip Road Capital Partners LP now owns 1,763,277 shares of the company’s stock valued at $11,814,000 after acquiring an additional 361,294 shares in the last quarter. Finally, Picton Mahoney Asset Management boosted its position in GoodRx by 24.3% during the 2nd quarter. Picton Mahoney Asset Management now owns 607,090 shares of the company’s stock worth $4,736,000 after purchasing an additional 118,703 shares during the period. Hedge funds and other institutional investors own 63.77% of the company’s stock.

GoodRx Price Performance

NASDAQ:GDRX traded down $0.24 during trading hours on Wednesday, reaching $7.35. 1,060,207 shares of the company traded hands, compared to its average volume of 1,452,858. The company has a debt-to-equity ratio of 0.96, a current ratio of 7.32 and a quick ratio of 7.32. The stock has a market cap of $2.76 billion, a P/E ratio of -735.00, a P/E/G ratio of 3.55 and a beta of 1.38. GoodRx has a 1-year low of $4.14 and a 1-year high of $9.26. The firm’s 50-day moving average is $8.00 and its 200-day moving average is $7.60.

GoodRx (NASDAQ:GDRX) last released its earnings results on Thursday, August 8th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $200.60 million during the quarter, compared to analysts’ expectations of $200.47 million. GoodRx had a negative net margin of 7.57% and a positive return on equity of 3.63%. GoodRx’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the company posted $0.02 earnings per share. Equities research analysts expect that GoodRx will post 0.15 earnings per share for the current fiscal year.

About GoodRx

GoodRx Holdings, Inc, together with its subsidiaries, offers information and tools that enable consumers to compare prices and save on their prescription drug purchases in the United States. The company operates a price comparison platform that provides consumers with curated, geographically relevant prescription pricing, and access to negotiated prices.