GoodRx Holdings, Inc. (NASDAQ:GDRX) Short Interest Up 24.4% in August

Key Points

• GoodRx Holdings experienced a notable increase in short interest for August, rising by 24.4% to 6,680,000 shares, accounting for 8.2% of its total shares sold short.
• The company's stock opened at $4.10, reflecting a decline of 3.1%, with a twelve-month trading range between $3.31 and $7.61.
• GoodRx's quarterly earnings report indicated a missed estimate with earnings per share of $0.09 against the consensus of $0.10, alongside a revenue increase of 1.2% year-over-year.

GoodRx Holdings, Inc. (NASDAQ:GDRX - Get Free Report) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 6,680,000 shares, a growth of 24.4% from the August 15th total of 5,370,000 shares. Currently, 8.2% of the company's shares are sold short. Based on an average daily trading volume, of 2,970,000 shares, the days-to-cover ratio is currently 2.2 days. Based on an average daily trading volume, of 2,970,000 shares, the days-to-cover ratio is currently 2.2 days. Currently, 8.2% of the company's shares are sold short.

Analyst Ratings Changes

GDRX has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $6.00 target price on shares of GoodRx in a report on Monday, August 11th. Raymond James Financial cut GoodRx from a "strong-buy" rating to an "outperform" rating in a report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $5.80.

Insider Buying and Selling

In other GoodRx news, major shareholder Equity Vii L.P. Spectrum sold 16,016 shares of GoodRx stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $4.05, for a total value of $64,864.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On GoodRx

Institutional investors and hedge funds have recently made changes to their positions in the company. Citizens Financial Group Inc. RI acquired a new stake in GoodRx in the first quarter worth $44,000. Jump Financial LLC bought a new position in shares of GoodRx in the first quarter worth $49,000. Cetera Investment Advisers bought a new position in shares of GoodRx in the second quarter worth $50,000. Walled Lake Planning & Wealth Management LLC bought a new position in GoodRx during the second quarter valued at about $55,000. Finally, Tower Research Capital LLC TRC boosted its stake in GoodRx by 202.3% during the second quarter. Tower Research Capital LLC TRC now owns 11,327 shares of the company's stock valued at $56,000 after buying an additional 7,580 shares in the last quarter. 63.77% of the stock is owned by institutional investors and hedge funds.

GoodRx Stock Down 2.4%

Shares of GDRX traded down $0.10 during trading on Friday, reaching $4.13. The company's stock had a trading volume of 5,476,381 shares, compared to its average volume of 2,322,638. The company has a fifty day moving average of $4.37 and a two-hundred day moving average of $4.41. GoodRx has a twelve month low of $3.31 and a twelve month high of $7.20. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 41.30, a P/E/G ratio of 1.80 and a beta of 1.23. The company has a quick ratio of 4.21, a current ratio of 4.21 and a debt-to-equity ratio of 0.75.

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). The business had revenue of $203.07 million during the quarter, compared to analyst estimates of $205.72 million. GoodRx had a net margin of 4.33% and a return on equity of 8.86%. The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 earnings per share. On average, sell-side analysts predict that GoodRx will post 0.13 EPS for the current fiscal 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.