Hood River Capital Management LLC Acquires 158,650 Shares of HealthEquity Inc. (HQY)
Hood River Capital Management LLC increased its position in shares of HealthEquity Inc. (NASDAQ:HQY) by 165.1% during the second quarter, Holdings Channel reports. The institutional investor owned 254,750 shares of the company’s stock after buying an additional 158,650 shares during the period. Hood River Capital Management LLC’s holdings in HealthEquity were worth $7,741,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in HQY. Norges Bank bought a new stake in HealthEquity during the fourth quarter worth about $10,277,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in HealthEquity by 746.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 80,730 shares of the company’s stock worth $1,992,000 after buying an additional 71,190 shares in the last quarter. Prudential Financial Inc. boosted its stake in HealthEquity by 8.3% in the first quarter. Prudential Financial Inc. now owns 87,060 shares of the company’s stock worth $2,148,000 after buying an additional 6,700 shares in the last quarter. Mckinley Capital Management LLC Delaware bought a new stake in HealthEquity during the first quarter worth about $2,658,000. Finally, Franklin Resources Inc. boosted its stake in HealthEquity by 10.4% in the first quarter. Franklin Resources Inc. now owns 769,632 shares of the company’s stock worth $18,987,000 after buying an additional 72,811 shares in the last quarter. 90.54% of the stock is currently owned by hedge funds and other institutional investors.
HealthEquity Inc. (NASDAQ:HQY) traded down 0.42% on Thursday, hitting $37.94. The stock had a trading volume of 413,827 shares. The stock’s 50 day moving average is $34.06 and its 200 day moving average is $28.85. HealthEquity Inc. has a one year low of $15.80 and a one year high of $38.31. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 97.28 and a beta of 1.62.
HealthEquity (NASDAQ:HQY) last announced its quarterly earnings data on Tuesday, September 6th. The company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.03. HealthEquity had a return on equity of 10.89% and a net margin of 15.21%. The firm had revenue of $44.20 million for the quarter. During the same period in the prior year, the company earned $0.08 EPS. The company’s revenue was up 44.9% on a year-over-year basis. Analysts anticipate that HealthEquity Inc. will post $0.51 earnings per share for the current year.
A number of research analysts have weighed in on the company. SunTrust Banks Inc. raised their price objective on HealthEquity from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, June 8th. Wells Fargo & Co. restated a “buy” rating on shares of HealthEquity in a report on Wednesday, June 8th. Leerink Swann restated an “outperform” rating and issued a $33.00 price objective (up previously from $30.00) on shares of HealthEquity in a report on Wednesday, June 8th. Zacks Investment Research upgraded HealthEquity from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Thursday, June 9th. Finally, Robert W. Baird raised their price objective on HealthEquity from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, September 7th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $36.00.
In other HealthEquity news, CEO Jon Kessler sold 10,000 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $30.05, for a total value of $300,500.00. Following the sale, the chief executive officer now owns 430,000 shares of the company’s stock, valued at $12,921,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jon Soldan sold 25,000 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $33.55, for a total value of $838,750.00. Following the completion of the sale, the vice president now directly owns 10,000 shares in the company, valued at approximately $335,500. The disclosure for this sale can be found here. Corporate insiders own 29.00% of the company’s stock.
HealthEquity, Inc provides a range of solutions for managing healthcare accounts (Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs) and Flexible Spending Accounts (FSAs)) for health plans, insurance companies and third-party administrators. The Company is engaged in technology-enabled services platforms that allow consumers to make healthcare saving and spending decisions.
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