| Account | Shares | Price | Value | % of acct | Cost/sh | Gain $ | Gain % | Target |
|---|---|---|---|---|---|---|---|---|
| 401K | 99 | $25.31 | $2,506 | 0.10% | $16.97 | $826 | +49.2% | — |
In short: Named only in the most-exposed bucket, with SelectQuote and GoHealth — a comparison/lead-reselling business an agent can replace.
25:58insurance, housing, travel portals, they're going to weaken because comparison is continuous. Select quote, Go Health, and Ever Quote. Insurance distribution is built around complexity, limited consumer attention, and periodic shopping. Once people sign up for their insurance, they just don't want to look anymore. It's annoying.
In short: QNST peer and a fellow Sy Jacobs "Super Investor" pick; up 59.7% since Sy's March 3rd Haymaker Webinar (as of July 17). The chart "looks very encouraging as the shares are on the verge of a five-year breakout." Sy's core bull point across all three insurance-marketplace names: abundant free cash flow funds substantial, and accelerating, share buybacks — "exactly what they've been doing."
EverQuote is a close cousin of QuinStreet — an online marketplace that matches shoppers with insurance companies and gets paid for the leads. It was recommended by the same person who found QuinStreet (Sy Jacobs, an investor Haymaker rates highly), and it's up 59.7% since March. Its chart is about to break above a ceiling that has capped it for five years, which technical investors read as bullish. The core reason to like all these insurance-marketplace names is simple: they throw off a lot of spare cash, and they're using that cash to buy back their own shares at a faster and faster pace — which lifts the value of each remaining share. Cited here as a winning peer that reinforces the QuinStreet thesis, not as a brand-new stand-alone pick.
In short: The PUREST auto lead-gen play and the cheapest — does almost nothing but insurance lead gen, mostly auto. ~$585M equity cap, $171M cash, no debt → ~$410M EV on ~$112M analyst EBITDA (he thinks low); EBITDA ≈ free cash flow ≈ GAAP, so "trading at 3.7 times cash flow." A growth company with little capex and AI as a beneficiary, not a threat. Has started buying back stock but is hoarding cash; he's visiting their Cambridge HQ this Friday to push them to buy back much more.
EverQuote is the purest and simplest of these businesses — it does almost nothing but generate auto-insurance leads — and Sy thinks that simplicity is exactly why it's so cheap and overlooked. The math: it's worth about $585M on the stock market but holds $171M of cash and has no debt, so the actual business is being valued at roughly $410M. Against about $112M of yearly earnings (which Sy thinks is understated), that's about 3.7 times earnings — dirt cheap for a growing company that barely needs to spend on equipment. Helpfully, its earnings, cash flow, and accounting profit are all about the same number, so there's no funny-money gap.
His one frustration: EverQuote is sitting on its cash instead of buying back much stock. He's flying to its Cambridge headquarters to lean on management to return more — if they don't, they'll just keep piling up cash ($280M by year-end on his numbers). A beneficiary of AI (more online price-shopping feeds it leads), not a victim.
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Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.