Divisadero Street Capital Management LP Decreases Stake in OptimizeRx Co. (NASDAQ:OPRX)

Divisadero Street Capital Management LP cut its stake in OptimizeRx Co. (NASDAQ:OPRX) by 16.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,315,913 shares of the company’s stock after selling 256,987 shares during the period. OptimizeRx accounts for about 2.0% of Divisadero Street Capital Management LP’s portfolio, making the stock its 13th largest position. Divisadero Street Capital Management LP owned about 0.07% of OptimizeRx worth $13,159,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Connors Investor Services Inc. raised its holdings in shares of OptimizeRx by 15.1% in the second quarter. Connors Investor Services Inc. now owns 19,107 shares of the company’s stock worth $191,000 after buying an additional 2,500 shares during the last quarter. Summit Securities Group LLC acquired a new stake in OptimizeRx during the 2nd quarter worth about $25,000. Rhumbline Advisers grew its stake in OptimizeRx by 9.2% during the 2nd quarter. Rhumbline Advisers now owns 31,462 shares of the company’s stock valued at $315,000 after purchasing an additional 2,658 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of OptimizeRx by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,027,293 shares of the company’s stock valued at $12,482,000 after purchasing an additional 6,291 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of OptimizeRx by 9.9% in the second quarter. Bank of New York Mellon Corp now owns 111,719 shares of the company’s stock valued at $1,117,000 after purchasing an additional 10,041 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on OPRX shares. B. Riley assumed coverage on OptimizeRx in a report on Thursday, July 25th. They set a “buy” rating and a $18.50 target price for the company. Royal Bank of Canada reduced their price objective on OptimizeRx from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, August 16th. JMP Securities restated a “market outperform” rating and issued a $16.00 target price on shares of OptimizeRx in a research note on Friday, June 21st. Finally, Barclays decreased their price target on OptimizeRx from $15.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

OptimizeRx Price Performance

Shares of OptimizeRx stock opened at $7.86 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.07 and a quick ratio of 3.07. OptimizeRx Co. has a 12 month low of $6.92 and a 12 month high of $16.65. The stock has a market capitalization of $143.60 million, a P/E ratio of -7.71 and a beta of 1.27. The business has a 50 day simple moving average of $8.91 and a two-hundred day simple moving average of $10.56.

OptimizeRx (NASDAQ:OPRX) last announced its earnings results on Thursday, August 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.11. The company had revenue of $18.81 million for the quarter, compared to analysts’ expectations of $20.47 million. OptimizeRx had a negative net margin of 21.53% and a negative return on equity of 5.97%. As a group, analysts predict that OptimizeRx Co. will post -0.33 EPS for the current fiscal year.

About OptimizeRx

OptimizeRx Corporation, a digital health technology company, enables care-focused engagement between life sciences organizations, healthcare providers, and patients at critical junctures throughout the patient care journey. It offers various tech-enabled marketing solutions through its Artificial Intelligence-generated Dynamic Audience and Activation Platform, which enables customers to execute traditional marketing campaigns on its proprietary digital point-of-care network, as well as dynamic marketing campaigns that optimize audiences in real time to increase the value of treatment information for healthcare professionals and patients in response to clinical care events.