Picton Mahoney Asset Management Acquires New Position in EverQuote, Inc. $EVER

Picton Mahoney Asset Management bought a new stake in EverQuote, Inc. (NASDAQ:EVER) during the 3rd quarter, Holdings Channel reports. The fund bought 39,340 shares of the company’s stock, valued at approximately $900,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EVER. Victory Capital Management Inc. grew its stake in shares of EverQuote by 27.7% during the 3rd quarter. Victory Capital Management Inc. now owns 60,884 shares of the company’s stock worth $1,392,000 after acquiring an additional 13,214 shares in the last quarter. Sierra Summit Advisors LLC lifted its holdings in shares of EverQuote by 28.8% during the third quarter. Sierra Summit Advisors LLC now owns 35,282 shares of the company’s stock worth $807,000 after buying an additional 7,881 shares in the last quarter. Tredje AP fonden bought a new position in shares of EverQuote during the third quarter worth approximately $437,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of EverQuote in the third quarter worth $281,000. Finally, NewEdge Wealth LLC acquired a new stake in shares of EverQuote during the 3rd quarter worth approximately $458,000. 91.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EVER has been the subject of several research reports. Raymond James Financial reissued an “outperform” rating and issued a $18.00 price objective on shares of EverQuote in a research note on Tuesday, February 17th. Craig Hallum reissued a “buy” rating and set a $20.00 target price on shares of EverQuote in a research note on Tuesday, February 24th. Needham & Company LLC dropped their price objective on shares of EverQuote from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Zacks Research downgraded shares of EverQuote from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Finally, Wall Street Zen upgraded shares of EverQuote from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.83.

EverQuote Stock Performance

EverQuote stock opened at $16.85 on Friday. The firm’s fifty day moving average price is $20.63 and its 200-day moving average price is $22.85. The stock has a market cap of $607.11 million, a P/E ratio of 6.38 and a beta of 0.54. EverQuote, Inc. has a fifty-two week low of $13.93 and a fifty-two week high of $30.03.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings data on Monday, February 23rd. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $0.35 by $1.19. EverQuote had a net margin of 14.34% and a return on equity of 57.65%. The firm had revenue of $195.32 million during the quarter, compared to the consensus estimate of $176.82 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was up 32.3% compared to the same quarter last year. On average, analysts predict that EverQuote, Inc. will post 0.72 earnings per share for the current year.

Insider Transactions at EverQuote

In related news, CEO Jayme Mendal sold 14,360 shares of EverQuote stock in a transaction on Friday, February 20th. The stock was sold at an average price of $14.98, for a total value of $215,112.80. Following the completion of the sale, the chief executive officer owned 541,777 shares of the company’s stock, valued at $8,115,819.46. The trade was a 2.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO David Brainard sold 5,709 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $25.05, for a total transaction of $143,010.45. Following the sale, the chief technology officer owned 101,603 shares of the company’s stock, valued at $2,545,155.15. This trade represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 55,249 shares of company stock valued at $1,238,364. Corporate insiders own 25.52% of the company’s stock.

About EverQuote

EverQuote, Inc operates an online insurance marketplace that connects consumers with insurance providers across the United States. Founded in 2011 and headquartered in Cambridge, Massachusetts, the company leverages proprietary technology to match individuals seeking coverage with insurers offering competitive rates. Since its initial public offering in 2020, EverQuote has focused on expanding its digital platform and enhancing the efficiency of its lead-generation processes.

The company’s core business centers on a quote-comparison engine for personal auto, home, and health insurance products.