Assenagon Asset Management S.A. Reduces Position in GoodRx Holdings, Inc. $GDRX

Key Points

• Assenagon Asset Management S.A. has reduced its position in GoodRx Holdings, Inc. by 29%, owning 257,580 shares worth approximately $1.28 million after selling 105,133 shares in the second quarter.
• Analysts have rated GoodRx stock with a consensus rating of "Hold" and a price target of $5.80, with significant reductions in ratings from major firms like Raymond James and Deutsche Bank.
• GoodRx reported a revenue of $203.07 million for the last quarter, missing analysts' expectations and posting a 0.09 earnings per share (EPS), which was below the consensus estimate of $0.10.

Assenagon Asset Management S.A. lessened its holdings in GoodRx Holdings, Inc. (NASDAQ:GDRX - Free Report) by 29.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 257,580 shares of the company's stock after selling 105,133 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.07% of GoodRx worth $1,283,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Citizens Financial Group Inc. RI purchased a new position in GoodRx in the first quarter valued at $44,000. Jump Financial LLC purchased a new position in shares of GoodRx in the 1st quarter valued at about $49,000. Northwestern Mutual Wealth Management Co. increased its stake in GoodRx by 20,956.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 14,529 shares of the company's stock valued at $64,000 after purchasing an additional 14,460 shares during the last quarter. Headlands Technologies LLC increased its stake in GoodRx by 213.2% in the first quarter. Headlands Technologies LLC now owns 14,830 shares of the company's stock valued at $65,000 after purchasing an additional 10,095 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in GoodRx in the first quarter valued at approximately $69,000. Hedge funds and other institutional investors own 63.77% of the company's stock.

Insider Activity

In related news, major shareholder Equity Vii L.P. Spectrum sold 16,016 shares of the firm's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $4.05, for a total transaction of $64,864.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. 4.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on GDRX shares. Raymond James Financial lowered shares of GoodRx from a "strong-buy" rating to an "outperform" rating in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $6.00 target price on shares of GoodRx in a research report on Monday, August 11th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, GoodRx presently has a consensus rating of "Hold" and a consensus price target of $5.80.

GoodRx Stock Performance

Shares of GDRX opened at $4.04 on Friday. The company has a current ratio of 4.21, a quick ratio of 4.21 and a debt-to-equity ratio of 0.75. The firm has a market cap of $1.40 billion, a PE ratio of 40.40, a price-to-earnings-growth ratio of 1.71 and a beta of 1.23. The company's 50 day simple moving average is $4.29 and its 200-day simple moving average is $4.39. GoodRx Holdings, Inc. has a 12-month low of $3.31 and a 12-month high of $7.20.

GoodRx (NASDAQ:GDRX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). GoodRx had a return on equity of 8.86% and a net margin of 4.33%.The business had revenue of $203.07 million for the quarter, compared to analysts' expectations of $205.72 million. During the same quarter last year, the business posted $0.08 earnings per share. The business's revenue was up 1.2% on a year-over-year basis. As a group, equities analysts predict that GoodRx Holdings, Inc. will post 0.13 EPS for the current 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.

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