Morse Asset Management Inc Buys 61,795 Shares of HealthEquity, Inc. (HQY)
Morse Asset Management Inc increased its position in shares of HealthEquity, Inc. (NASDAQ:HQY) by 609.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 71,930 shares of the company’s stock after buying an additional 61,795 shares during the period. Morse Asset Management Inc’s holdings in HealthEquity were worth $3,584,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in HQY. Vanguard Group Inc. boosted its position in shares of HealthEquity by 6.2% in the first quarter. Vanguard Group Inc. now owns 4,115,237 shares of the company’s stock worth $174,691,000 after buying an additional 240,136 shares during the last quarter. Glen Harbor Capital Management LLC boosted its position in shares of HealthEquity by 0.4% in the first quarter. Glen Harbor Capital Management LLC now owns 43,956 shares of the company’s stock worth $1,866,000 after buying an additional 154 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of HealthEquity during the first quarter worth about $503,000. Quantbot Technologies LP boosted its position in shares of HealthEquity by 83.4% in the first quarter. Quantbot Technologies LP now owns 6,883 shares of the company’s stock worth $292,000 after buying an additional 3,129 shares during the last quarter. Finally, Pier Capital LLC bought a new position in shares of HealthEquity during the first quarter worth about $5,708,000. Institutional investors and hedge funds own 90.26% of the company’s stock.
HealthEquity, Inc. (HQY) opened at 47.52 on Wednesday. HealthEquity, Inc. has a 1-year low of $28.12 and a 1-year high of $54.95. The stock has a 50 day moving average price of $49.39 and a 200 day moving average price of $46.16. The stock has a market cap of $2.85 billion, a PE ratio of 89.32 and a beta of 1.73.
HealthEquity (NASDAQ:HQY) last issued its quarterly earnings data on Tuesday, June 6th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. HealthEquity had a return on equity of 11.61% and a net margin of 17.04%. The firm had revenue of $55.40 million during the quarter, compared to analyst estimates of $54.77 million. During the same quarter in the prior year, the business posted $0.15 EPS. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. On average, analysts predict that HealthEquity, Inc. will post $0.58 EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This story was originally reported by Daily Political and is the property of of Daily Political. If you are viewing this story on another website, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this story can be accessed at https://www.dailypolitical.com/2017/08/09/morse-asset-management-inc-buys-61795-shares-of-healthequity-inc-hqy.html.
A number of research analysts have issued reports on HQY shares. TheStreet upgraded HealthEquity from a “c” rating to a “b” rating in a research note on Monday, July 31st. Chardan Capital lifted their price objective on HealthEquity from $53.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, June 7th. BidaskClub cut HealthEquity from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Zacks Investment Research cut HealthEquity from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Cantor Fitzgerald lifted their price objective on HealthEquity from $55.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $50.22.
In other news, major shareholder Berkley Capital, Llc sold 4,002 shares of the stock in a transaction on Monday, June 19th. The stock was sold at an average price of $51.99, for a total transaction of $208,063.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen Neeleman sold 40,000 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $48.36, for a total value of $1,934,400.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,440,821 shares of company stock valued at $125,325,268. Company insiders own 19.00% 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.
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.