GoodRx Holdings, Inc. (NASDAQ:GDRX) Sees Large Decline in Short Interest

GoodRx Holdings, Inc. (NASDAQ:GDRX) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 7,860,000 shares, a decrease of 5.9% from the July 15th total of 8,350,000 shares. Based on an average trading volume of 1,500,000 shares, the short-interest ratio is currently 5.2 days. Approximately 10.2% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Rubric Capital Management LP acquired a new position in GoodRx during the fourth quarter worth approximately $39,348,000. American Century Companies Inc. purchased a new position in shares of GoodRx in the 2nd quarter worth $18,183,000. Millennium Management LLC boosted its holdings in GoodRx by 36.5% in the second quarter. Millennium Management LLC now owns 4,121,939 shares of the company’s stock valued at $32,151,000 after acquiring an additional 1,102,758 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in GoodRx during the first quarter valued at about $3,467,000. Finally, Rip Road Capital Partners LP increased its stake in GoodRx by 25.8% during the fourth quarter. Rip Road Capital Partners LP now owns 1,763,277 shares of the company’s stock worth $11,814,000 after acquiring an additional 361,294 shares during the last quarter. 63.77% of the stock is currently owned by hedge funds and other institutional investors.

GoodRx Price Performance

GoodRx stock opened at $7.17 on Monday. The firm’s 50-day moving average is $8.13 and its two-hundred day moving average is $7.41. The company has a debt-to-equity ratio of 1.02, a current ratio of 6.29 and a quick ratio of 6.29. The stock has a market capitalization of $2.69 billion, a P/E ratio of -717.00, a P/E/G ratio of 4.08 and a beta of 1.39. GoodRx has a 12-month low of $4.14 and a 12-month high of $9.26.

GoodRx (NASDAQ:GDRX) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). GoodRx had a negative net margin of 0.86% and a positive return on equity of 3.45%. The business had revenue of $200.60 million during the quarter, compared to analysts’ expectations of $200.47 million. During the same period in the prior year, the firm earned $0.02 EPS. GoodRx’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities analysts predict that GoodRx will post 0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GDRX shares. TD Cowen boosted their target price on shares of GoodRx from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. UBS Group decreased their price objective on shares of GoodRx from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. Raymond James raised shares of GoodRx from an “outperform” rating to a “strong-buy” rating and set a $10.00 target price for the company in a report on Friday, August 9th. Citigroup decreased their price target on GoodRx from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Morgan Stanley raised their price objective on GoodRx from $7.00 to $9.50 and gave the company an “equal weight” rating in a research note on Monday, June 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GoodRx has a consensus rating of “Moderate Buy” and a consensus price target of $9.36.

GoodRx Company Profile

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.