Overbrook Management Corp Invests $12.28 Million in HealthEquity, Inc. (NASDAQ:HQY)

Overbrook Management Corp acquired a new position in shares of HealthEquity, Inc. (NASDAQ:HQY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 142,501 shares of the company’s stock, valued at approximately $12,284,000. HealthEquity accounts for 3.1% of Overbrook Management Corp’s investment portfolio, making the stock its 13th biggest holding. Overbrook Management Corp owned about 0.16% of HealthEquity at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Retirement Systems of Alabama boosted its holdings in HealthEquity by 100.8% in the 2nd quarter. Retirement Systems of Alabama now owns 216,297 shares of the company’s stock valued at $18,645,000 after purchasing an additional 108,553 shares during the period. Fifth Third Wealth Advisors LLC bought a new position in shares of HealthEquity in the second quarter worth $238,000. Nisa Investment Advisors LLC increased its position in shares of HealthEquity by 7.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,854 shares of the company’s stock worth $246,000 after purchasing an additional 198 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in HealthEquity by 1.8% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 616,860 shares of the company’s stock valued at $53,173,000 after purchasing an additional 11,150 shares in the last quarter. Finally, Raymond James & Associates grew its stake in HealthEquity by 11.3% during the second quarter. Raymond James & Associates now owns 149,407 shares of the company’s stock worth $12,879,000 after buying an additional 15,140 shares in the last quarter. 99.55% of the stock is owned by institutional investors.

Insider Activity at HealthEquity

In other news, Vice Chairman Stephen Neeleman sold 2,080 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $85.01, for a total value of $176,820.80. Following the transaction, the insider now owns 90,515 shares in the company, valued at approximately $7,694,680.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other HealthEquity news, CEO Jon Kessler sold 32,326 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $82.83, for a total transaction of $2,677,562.58. Following the completion of the transaction, the chief executive officer now directly owns 232,176 shares of the company’s stock, valued at $19,231,138.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Stephen Neeleman sold 2,080 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $85.01, for a total value of $176,820.80. Following the completion of the sale, the insider now directly owns 90,515 shares of the company’s stock, valued at $7,694,680.15. The disclosure for this sale can be found here. In the last three months, insiders sold 77,511 shares of company stock valued at $6,314,446. 2.20% of the stock is owned by insiders.

HealthEquity Stock Up 2.0 %

Shares of NASDAQ HQY traded up $1.47 during midday trading on Friday, hitting $76.62. 378,723 shares of the stock traded hands, compared to its average volume of 621,563. The company has a debt-to-equity ratio of 0.44, a quick ratio of 4.39 and a current ratio of 4.39. HealthEquity, Inc. has a one year low of $61.81 and a one year high of $88.26. The business has a 50 day moving average price of $78.18 and a two-hundred day moving average price of $79.80. The company has a market cap of $6.67 billion, a PE ratio of 83.28, a P/E/G ratio of 1.31 and a beta of 0.57.

HealthEquity (NASDAQ:HQY) last released its quarterly earnings data on Monday, June 3rd. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.08. The firm had revenue of $287.60 million for the quarter, compared to the consensus estimate of $278.78 million. HealthEquity had a net margin of 7.71% and a return on equity of 7.77%. On average, equities analysts predict that HealthEquity, Inc. will post 2.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HQY. Raymond James upped their price target on shares of HealthEquity from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. JMP Securities raised their target price on HealthEquity from $101.00 to $105.00 and gave the company a “market outperform” rating in a report on Tuesday, June 4th. Robert W. Baird upped their price objective on HealthEquity from $98.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 4th. Barrington Research boosted their target price on HealthEquity from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 4th. Finally, KeyCorp raised their price target on shares of HealthEquity from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, June 5th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, HealthEquity has a consensus rating of “Moderate Buy” and an average price target of $101.67.

HealthEquity Profile

HealthEquity, Inc provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, receive personalized benefit information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.