Arcadia Investment Management Corp MI Has $125,000 Stake in HealthEquity, Inc. (HQY)
Arcadia Investment Management Corp MI held its position in HealthEquity, Inc. (NASDAQ:HQY) during the second quarter, Holdings Channel reports. The fund owned 2,515 shares of the company’s stock at the end of the second quarter. Arcadia Investment Management Corp MI’s holdings in HealthEquity were worth $125,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in HealthEquity by 18.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 272,959 shares of the company’s stock valued at $11,061,000 after buying an additional 43,403 shares during the last quarter. Guggenheim Capital LLC purchased a new position in HealthEquity during the fourth quarter valued at $285,000. AQR Capital Management LLC purchased a new position in HealthEquity during the fourth quarter valued at $293,000. Norges Bank purchased a new position in HealthEquity during the fourth quarter valued at $14,203,000. Finally, Teachers Advisors LLC boosted its position in HealthEquity by 9.8% in the fourth quarter. Teachers Advisors LLC now owns 75,351 shares of the company’s stock valued at $3,053,000 after buying an additional 6,706 shares during the last quarter. 90.54% of the stock is currently owned by hedge funds and other institutional investors.
HealthEquity, Inc. (NASDAQ:HQY) opened at 46.65 on Wednesday. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 87.69 and a beta of 1.73. The company has a 50-day moving average of $48.47 and a 200 day moving average of $46.09. HealthEquity, Inc. has a 12 month low of $28.39 and a 12 month high of $54.95.
HealthEquity (NASDAQ:HQY) last announced its quarterly earnings results on Tuesday, June 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $55.40 million for the quarter, compared to the consensus estimate of $54.77 million. HealthEquity had a net margin of 17.04% and a return on equity of 11.61%. HealthEquity’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 EPS. On average, equities research analysts anticipate that HealthEquity, Inc. will post $0.58 earnings per share for the current fiscal year.
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HQY has been the topic of several research analyst reports. Chardan Capital upped their price target on shares of HealthEquity from $53.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, June 7th. Cantor Fitzgerald upped their price target on shares of HealthEquity from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, June 7th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $61.00 price target (up previously from $57.00) on shares of HealthEquity in a report on Monday, June 12th. Zacks Investment Research raised shares of HealthEquity from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Wednesday, July 12th. Finally, BidaskClub cut shares of HealthEquity from a “buy” rating to a “hold” rating in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $50.22.
In other news, insider Stephen Neeleman sold 8,500 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $50.83, for a total value of $432,055.00. Following the sale, the insider now directly owns 1,000 shares in the company, valued at approximately $50,830. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Ashley Dreier sold 10,000 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $47.81, for a total transaction of $478,100.00. Following the completion of the sale, the vice president now owns 15,652 shares in the company, valued at $748,322.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,440,821 shares of company stock worth $125,325,268. 19.00% of the stock is currently owned by 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.
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