Short Interest in EverQuote, Inc. (NASDAQ:EVER) Grows By 11.8%

EverQuote, Inc. (NASDAQ:EVER) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 1,800,000 shares, an increase of 11.8% from the June 30th total of 1,610,000 shares. Based on an average daily trading volume, of 495,500 shares, the days-to-cover ratio is currently 3.6 days.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EVER. B. Riley increased their price objective on EverQuote from $24.00 to $29.50 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Canaccord Genuity Group raised their price target on EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Needham & Company LLC upped their price objective on shares of EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, Craig Hallum raised their target price on shares of EverQuote from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $26.25.

EverQuote Trading Down 2.7 %

Shares of EVER traded down $0.72 during trading hours on Monday, hitting $25.76. The company had a trading volume of 391,239 shares, compared to its average volume of 426,614. The company has a market capitalization of $894.39 million, a PE ratio of -18.27 and a beta of 0.96. EverQuote has a one year low of $5.36 and a one year high of $26.90. The company’s fifty day moving average price is $22.37 and its two-hundred day moving average price is $19.12.

EverQuote (NASDAQ:EVER) last announced its earnings results on Monday, May 6th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. EverQuote had a negative net margin of 17.37% and a negative return on equity of 31.65%. The business had revenue of $91.07 million during the quarter, compared to the consensus estimate of $80.36 million. During the same period in the previous year, the company posted ($0.08) earnings per share. The firm’s revenue was down 16.6% on a year-over-year basis. Analysts forecast that EverQuote will post 0.05 earnings per share for the current year.

Insider Transactions at EverQuote

In related news, Director David B. Blundin sold 58,434 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $20.14, for a total transaction of $1,176,860.76. Following the completion of the transaction, the director now owns 535,058 shares in the company, valued at approximately $10,776,068.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director David B. Blundin sold 58,434 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $20.14, for a total value of $1,176,860.76. Following the transaction, the director now owns 535,058 shares of the company’s stock, valued at approximately $10,776,068.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Shields sold 2,000 shares of EverQuote stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $21.84, for a total transaction of $43,680.00. Following the sale, the director now owns 34,515 shares of the company’s stock, valued at approximately $753,807.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 162,498 shares of company stock worth $3,500,257. 29.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EverQuote

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in EverQuote by 244,503.3% in the 1st quarter. Russell Investments Group Ltd. now owns 293,524 shares of the company’s stock worth $5,448,000 after purchasing an additional 293,404 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of EverQuote by 206.9% in the first quarter. Acadian Asset Management LLC now owns 318,144 shares of the company’s stock worth $5,903,000 after buying an additional 214,486 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of EverQuote during the second quarter worth $3,796,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of EverQuote during the first quarter valued at $2,167,000. Finally, SG Americas Securities LLC acquired a new stake in EverQuote during the second quarter valued at $808,000. Hedge funds and other institutional investors own 91.54% of the company’s stock.

EverQuote Company 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.