GoodRx (NASDAQ:GDRX) Stock Price Down 13.9% – Time to Sell?

GoodRx Holdings, Inc. (NASDAQ:GDRX) shares were down 13.9% during mid-day trading on Thursday . The stock traded as low as $4.66 and last traded at $5.26. Approximately 1,170,042 shares changed hands during mid-day trading, a decline of 14% from the average daily volume of 1,366,152 shares. The stock had previously closed at $6.11.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GDRX shares. Citigroup dropped their target price on shares of GoodRx from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 9th. UBS Group reduced their price objective on GoodRx from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 price target on shares of GoodRx in a report on Friday, August 16th. Finally, Raymond James raised GoodRx from an “outperform” rating to a “strong-buy” rating and set a $10.00 price target on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.36.

GoodRx Stock Performance

The company has a debt-to-equity ratio of 0.96, a quick ratio of 7.32 and a current ratio of 7.32. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -37.62, a PEG ratio of 3.86 and a beta of 1.39. The company’s 50 day simple moving average is $6.88 and its 200 day simple moving average is $7.50.

GoodRx (NASDAQ:GDRX) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). GoodRx had a negative net margin of 7.57% and a positive return on equity of 3.63%. The firm had revenue of $200.60 million for the quarter, compared to the consensus estimate of $200.47 million. During the same period in the previous year, the business posted $0.02 earnings per share. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that GoodRx Holdings, Inc. will post 0.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Equity Vii L.P. Spectrum sold 10,677 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.86, for a total value of $83,921.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.17% of the company’s stock.

Institutional Investors Weigh In On GoodRx

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC lifted its stake in shares of GoodRx by 36.5% in the 2nd quarter. Millennium Management LLC now owns 4,121,939 shares of the company’s stock valued at $32,151,000 after purchasing an additional 1,102,758 shares during the last quarter. Rubric Capital Management LP lifted its holdings in shares of GoodRx by 76.5% during the second quarter. Rubric Capital Management LP now owns 3,736,802 shares of the company’s stock worth $29,147,000 after buying an additional 1,619,748 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of GoodRx during the second quarter worth approximately $18,183,000. Picton Mahoney Asset Management boosted its position in shares of GoodRx by 24.3% in the second quarter. Picton Mahoney Asset Management now owns 607,090 shares of the company’s stock valued at $4,736,000 after acquiring an additional 118,703 shares during the period. Finally, Raymond James & Associates raised its stake in GoodRx by 212.6% during the 3rd quarter. Raymond James & Associates now owns 394,006 shares of the company’s stock valued at $2,734,000 after purchasing an additional 267,951 shares during the last quarter. 63.77% of the stock is owned by hedge funds and other institutional investors.

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.