Mason Street Advisors LLC Purchases New Position in HealthEquity Inc. (HQY)
Mason Street Advisors LLC purchased a new position in shares of HealthEquity Inc. (NASDAQ:HQY) during the second quarter, according to its most recent filing with the SEC. The firm purchased 6,910 shares of the company’s stock, valued at approximately $210,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its stake in HealthEquity by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 15,700 shares of the company’s stock worth $477,000 after buying an additional 100 shares in the last quarter. Bank of Montreal Can bought a new stake in HealthEquity during the second quarter worth about $3,295,000. FCM Investments TX boosted its stake in HealthEquity by 59.0% in the second quarter. FCM Investments TX now owns 99,701 shares of the company’s stock worth $3,029,000 after buying an additional 37,001 shares in the last quarter. Capstone Asset Management Co. boosted its stake in HealthEquity by 4.7% in the second quarter. Capstone Asset Management Co. now owns 10,700 shares of the company’s stock worth $325,000 after buying an additional 480 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in HealthEquity by 0.7% in the second quarter. BNP Paribas Arbitrage SA now owns 44,898 shares of the company’s stock worth $1,364,000 after buying an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.
HealthEquity Inc. (NASDAQ:HQY) opened at 37.85 on Wednesday. The firm has a 50-day moving average of $35.04 and a 200 day moving average of $29.28. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 97.05 and a beta of 1.62. HealthEquity Inc. has a 12-month low of $15.80 and a 12-month high of $38.80.
HealthEquity (NASDAQ:HQY) last posted its earnings results on Tuesday, September 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.03. HealthEquity had a net margin of 15.21% and a return on equity of 10.89%. The firm earned $44.20 million during the quarter. During the same quarter in the previous year, the company earned $0.08 EPS. The business’s revenue was up 44.9% compared to the same quarter last year. Analysts expect that HealthEquity Inc. will post $0.51 EPS for the current fiscal year.
A number of analysts have recently issued reports on the stock. SunTrust Banks Inc. restated a “buy” rating on shares of HealthEquity in a research note on Thursday, September 8th. Zacks Investment Research upgraded shares of HealthEquity from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Thursday, September 8th. Barrington Research raised their target price on shares of HealthEquity from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, September 8th. Robert W. Baird raised their target price on shares of HealthEquity from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 7th. Finally, Raymond James Financial Inc. raised their price target on shares of HealthEquity from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, September 12th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $36.00.
In related news, Director Ian Sacks sold 100,000 shares of the business’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $30.27, for a total value of $3,027,000.00. Following the transaction, the director now directly owns 223,417 shares of the company’s stock, valued at approximately $6,762,832.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jon Kessler sold 10,000 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $30.05, for a total transaction of $300,500.00. Following the completion of the transaction, the chief executive officer now directly owns 430,000 shares in the company, valued at $12,921,500. The disclosure for this sale can be found here. 29.00% of the stock is currently owned by corporate insiders.
HealthEquity Company Profile
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.
Want to see what other hedge funds are holding HQY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HealthEquity Inc. (NASDAQ:HQY).
Receive News & Ratings for HealthEquity Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HealthEquity Inc. and related companies with MarketBeat.com's FREE daily email newsletter.