Connor Clark & Lunn Investment Management Ltd. Raises Position in EverQuote, Inc. (NASDAQ:EVER)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in EverQuote, Inc. by 42.0%, holding 219,188 shares worth approximately $5.74 million as of the latest SEC filing.
• EverQuote reported $0.39 earnings per share for the recent quarter, exceeding expectations, with a revenue increase of 33.7% compared to the same quarter last year.
• Wall Street analysts maintain a consensus rating of "Buy" for EverQuote, with a price target averaging around $32.40, reflecting positive growth expectations.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of EverQuote, Inc. (NASDAQ:EVER - Free Report) by 42.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 219,188 shares of the company's stock after acquiring an additional 64,816 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.61% of EverQuote worth $5,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of EVER. Divisadero Street Capital Management LP bought a new stake in EverQuote in the 4th quarter valued at $12,311,000. Geode Capital Management LLC boosted its position in EverQuote by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 600,365 shares of the company's stock valued at $12,004,000 after buying an additional 5,210 shares during the period. Freestone Grove Partners LP purchased a new stake in EverQuote in the 4th quarter valued at about $11,618,000. Renaissance Technologies LLC boosted its position in EverQuote by 32.9% in the 4th quarter. Renaissance Technologies LLC now owns 469,087 shares of the company's stock valued at $9,377,000 after buying an additional 116,100 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in shares of EverQuote by 2,301.4% in the 4th quarter. Point72 Asset Management L.P. now owns 461,013 shares of the company's stock worth $9,216,000 after purchasing an additional 441,815 shares during the period. 91.54% of the stock is currently owned by institutional investors.

EverQuote Trading Down 0.2%

EverQuote stock opened at $23.51 on Wednesday. EverQuote, Inc. has a 12-month low of $16.63 and a 12-month high of $30.03. The stock has a market cap of $839.78 million, a P/E ratio of 18.96 and a beta of 0.37. The company has a 50-day moving average price of $24.65 and a 200 day moving average price of $24.03.

EverQuote (NASDAQ:EVER - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.04. The company had revenue of $156.63 million during the quarter, compared to analyst estimates of $157.19 million. EverQuote had a net margin of 7.57% and a return on equity of 36.90%. EverQuote's revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 earnings per share. As a group, analysts forecast that EverQuote, Inc. will post 0.72 EPS for the current year.

Insider Activity at EverQuote

In other EverQuote news, CEO Jayme Mendal sold 14,360 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $24.87, for a total transaction of $357,133.20. Following the completion of the transaction, the chief executive officer owned 527,140 shares of the company's stock, valued at $13,109,971.80. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Shields sold 2,000 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $24.30, for a total value of $48,600.00. Following the completion of the sale, the director owned 31,219 shares in the company, valued at $758,621.70. This represents a 6.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 963,162 shares of company stock valued at $22,521,781 over the last quarter. 25.52% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EVER. Needham & Company LLC reaffirmed a "buy" rating and issued a $38.00 price target on shares of EverQuote in a research report on Tuesday, August 5th. JPMorgan Chase & Co. upped their price target on shares of EverQuote from $29.00 to $30.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $32.40.

EverQuote Profile

EverQuote, Inc operates an online marketplace for insurance shopping in the United States. The company offers auto, home and renters, and life insurance. The company serves carriers and agents, as well as indirect distributors. The company was formerly known as AdHarmonics, Inc, and changed its name to EverQuote, Inc in November 2014.

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