Connor Clark & Lunn Investment Management Ltd. Increases Position in GoodRx Holdings, Inc. (NASDAQ:GDRX)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in GoodRx Holdings, Inc. by 16.7%, now holding 1,434,625 shares valued at approximately $6.3 million.
• Multiple analysts have downgraded GoodRx's stock price targets, with Wells Fargo lowering theirs from $8.00 to $7.00, while UBS and Goldman Sachs reduced theirs to $5.25 and $5.00, respectively.
• In its latest earnings report, GoodRx missed earnings expectations by $0.01, reporting an EPS of $0.09 and revenue of $203.07 million, slightly below analyst forecasts.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in GoodRx Holdings, Inc. (NASDAQ:GDRX - Free Report) by 16.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,434,625 shares of the company's stock after purchasing an additional 205,789 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.37% of GoodRx worth $6,327,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Citizens Financial Group Inc. RI purchased a new position in shares of GoodRx in the 1st quarter worth $44,000. Deerfield Management Company L.P. Series C purchased a new position in shares of GoodRx in the 4th quarter worth $56,000. Total Wealth Planning & Management Inc. purchased a new position in shares of GoodRx in the 4th quarter worth $68,000. Headlands Technologies LLC boosted its stake in shares of GoodRx by 213.2% in the 1st quarter. Headlands Technologies LLC now owns 14,830 shares of the company's stock worth $65,000 after buying an additional 10,095 shares during the last quarter. Finally, Oxford Asset Management LLP purchased a new position in shares of GoodRx in the 4th quarter worth $75,000. 63.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other GoodRx news, major shareholder Equity Vii L.P. Spectrum sold 10,677 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $4.80, for a total transaction of $51,249.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.53% of the stock is owned by insiders.

Analysts Set New Price Targets

GDRX has been the topic of a number of research reports. Raymond James Financial downgraded GoodRx from a "strong-buy" rating to an "outperform" rating in a research note on Friday, August 8th. Wells Fargo & Company lowered their target price on GoodRx from $8.00 to $7.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 29th. UBS Group lowered their target price on GoodRx from $6.00 to $5.25 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. The Goldman Sachs Group lowered their target price on GoodRx from $6.00 to $5.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $6.00 target price on shares of GoodRx in a research report on Monday, August 11th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, GoodRx has an average rating of "Hold" and a consensus price target of $5.80.

GoodRx Price Performance

Shares of GDRX stock traded up $0.19 during trading hours on Friday, hitting $3.73. The stock had a trading volume of 1,636,754 shares, compared to its average volume of 1,655,840. GoodRx Holdings, Inc. has a one year low of $3.31 and a one year high of $8.80. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.21 and a quick ratio of 4.21. The stock's 50-day moving average price is $4.56 and its two-hundred day moving average price is $4.51. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 37.30, a PEG ratio of 1.57 and a beta of 1.24.

GoodRx (NASDAQ:GDRX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). GoodRx had a return on equity of 8.86% and a net margin of 4.33%. The company had revenue of $203.07 million for the quarter, compared to the consensus estimate of $205.72 million. During the same period in the previous year, the firm earned $0.08 earnings per share. The company's revenue was up 1.2% compared to the same quarter last year. Equities analysts forecast that GoodRx Holdings, Inc. will post 0.13 EPS for the current year.

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.