Picton Mahoney Asset Management Has $14.21 Million Stake in HealthEquity, Inc. (HQY)
Picton Mahoney Asset Management lessened its position in HealthEquity, Inc. (NASDAQ:HQY) by 2.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 285,200 shares of the company’s stock after selling 7,300 shares during the period. Picton Mahoney Asset Management owned about 0.48% of HealthEquity worth $14,212,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised 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 valued at $174,691,000 after buying an additional 240,136 shares during the last quarter. Paloma Partners Management Co acquired a new position in shares of HealthEquity in the first quarter valued at approximately $503,000. First Trust Advisors LP raised its position in shares of HealthEquity by 17.0% in the second quarter. First Trust Advisors LP now owns 94,283 shares of the company’s stock valued at $4,698,000 after buying an additional 13,676 shares during the last quarter. Royce & Associates LP raised its position in shares of HealthEquity by 18.0% in the second quarter. Royce & Associates LP now owns 139,200 shares of the company’s stock valued at $6,936,000 after buying an additional 21,200 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of HealthEquity in the second quarter valued at approximately $1,362,000. 90.97% of the stock is owned by institutional investors and hedge funds.
HealthEquity, Inc. (NASDAQ HQY) traded up 1.61% during midday trading on Friday, reaching $50.58. 461,811 shares of the company were exchanged. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 75.04 and a beta of 1.75. HealthEquity, Inc. has a 52-week low of $30.34 and a 52-week high of $54.95. The firm’s 50-day moving average price is $44.62 and its 200 day moving average price is $46.01.
HealthEquity (NASDAQ:HQY) last posted its quarterly earnings results on Tuesday, September 5th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.13. The business had revenue of $56.90 million during the quarter, compared to analyst estimates of $55.66 million. HealthEquity had a net margin of 20.27% and a return on equity of 13.93%. The firm’s revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 earnings per share. Equities analysts predict that HealthEquity, Inc. will post $0.71 earnings per share for the current year.
In related news, insider Stephen Neeleman sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $50.83, for a total transaction of $432,055.00. Following the transaction, the insider now owns 1,000 shares of the company’s stock, valued at $50,830. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jon Soldan sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $40.68, for a total transaction of $1,017,000.00. Following the transaction, the vice president now directly owns 30,652 shares in the company, valued at approximately $1,246,923.36. The disclosure for this sale can be found here. Insiders sold 1,574,500 shares of company stock valued at $79,719,804 over the last three months. 29.00% of the stock is owned by insiders.
HQY has been the subject of a number of recent analyst reports. TheStreet upgraded shares of HealthEquity from a “c” rating to a “b” rating in a report on Monday, July 31st. Zacks Investment Research downgraded shares of HealthEquity from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Cantor Fitzgerald restated a “buy” rating and issued a $56.00 target price on shares of HealthEquity in a report on Tuesday, August 29th. BidaskClub upgraded shares of HealthEquity from a “strong sell” rating to a “sell” rating in a report on Friday, September 15th. Finally, Chardan Capital boosted their target price on shares of HealthEquity from $53.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, June 7th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $56.50.
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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