Bullseye Asset Management LLC Trims Stake in OptimizeRx Co. (NASDAQ:OPRX)

Bullseye Asset Management LLC trimmed its stake in OptimizeRx Co. (NASDAQ:OPRX) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 201,527 shares of the company’s stock after selling 12,519 shares during the quarter. Bullseye Asset Management LLC owned approximately 1.09% of OptimizeRx worth $980,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in OptimizeRx by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 444,167 shares of the company’s stock valued at $2,159,000 after purchasing an additional 39,740 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of OptimizeRx during the fourth quarter worth about $653,000. Walleye Capital LLC purchased a new position in shares of OptimizeRx during the fourth quarter valued at approximately $673,000. XTX Topco Ltd acquired a new stake in OptimizeRx during the fourth quarter worth approximately $178,000. Finally, Barclays PLC boosted its position in OptimizeRx by 13.5% during the fourth quarter. Barclays PLC now owns 30,574 shares of the company’s stock worth $148,000 after acquiring an additional 3,640 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

OptimizeRx Stock Performance

Shares of NASDAQ:OPRX opened at $8.38 on Friday. The business has a 50-day moving average of $7.30 and a two-hundred day moving average of $6.08. The firm has a market capitalization of $154.95 million, a PE ratio of -6.30 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.23 and a quick ratio of 3.23. OptimizeRx Co. has a 12 month low of $3.78 and a 12 month high of $14.13.

Insider Transactions at OptimizeRx

In other OptimizeRx news, Director James Paul Lang bought 321,408 shares of OptimizeRx stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $7.60 per share, for a total transaction of $2,442,700.80. Following the acquisition, the director now owns 389,452 shares of the company’s stock, valued at $2,959,835.20. The trade was a 472.35 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OPRX. Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 price target (down previously from $7.00) on shares of OptimizeRx in a research note on Wednesday, January 8th. JMP Securities reiterated a “market outperform” rating and set a $8.00 target price on shares of OptimizeRx in a research report on Thursday, February 6th. Finally, B. Riley upgraded OptimizeRx to a “strong-buy” rating in a report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, OptimizeRx presently has a consensus rating of “Moderate Buy” and an average price target of $9.06.

OptimizeRx Company Profile

OptimizeRx Corporation, a digital health technology company, enables care-focused engagement between life sciences organizations, healthcare providers, and patients at critical junctures throughout the patient care journey. It offers various tech-enabled marketing solutions through its Artificial Intelligence-generated Dynamic Audience and Activation Platform, which enables customers to execute traditional marketing campaigns on its proprietary digital point-of-care network, as well as dynamic marketing campaigns that optimize audiences in real time to increase the value of treatment information for healthcare professionals and patients in response to clinical care events.