Penn Capital Management Company LLC Invests $1.01 Million in HealthEquity, Inc. $HQY

Key Points

• Penn Capital Management Company LLC acquired 11,268 shares of HealthEquity, Inc. for approximately $1,013,000 during the first quarter of 2023.
• Several institutional investors, including Northwestern Mutual and Whipplewood Advisors, significantly increased their stakes in HealthEquity during the same period, reflecting growing interest in the company's stock.
• Analysts have raised their price targets for HealthEquity, with Bank of America increasing its target from $110 to $125, and currently hold an average rating of "Buy" with a target price of $118.55.

Penn Capital Management Company LLC acquired a new position in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,268 shares of the company's stock, valued at approximately $1,013,000.

A number of other institutional investors have also recently bought and sold shares of HQY. Northwestern Mutual Wealth Management Co. increased its holdings in shares of HealthEquity by 176.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 655 shares of the company's stock valued at $58,000 after purchasing an additional 418 shares during the last quarter. AlphaQuest LLC acquired a new stake in shares of HealthEquity during the 1st quarter worth approximately $126,000. Compound Planning Inc. increased its stake in shares of HealthEquity by 32.6% in the 1st quarter. Compound Planning Inc. now owns 4,711 shares of the company's stock valued at $416,000 after purchasing an additional 1,158 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in HealthEquity by 148.1% in the first quarter. Ameriprise Financial Inc. now owns 669,939 shares of the company's stock valued at $59,203,000 after buying an additional 399,897 shares in the last quarter. Finally, CW Advisors LLC bought a new position in HealthEquity in the 1st quarter valued at approximately $289,000. Institutional investors and hedge funds own 99.55% of the company's stock.

HealthEquity Trading Down 1.5%

Shares of NASDAQ HQY traded down $1.35 during trading hours on Wednesday, hitting $87.98. The company's stock had a trading volume of 872,967 shares, compared to its average volume of 1,006,108. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.06 and a current ratio of 4.06. HealthEquity, Inc. has a 12 month low of $73.84 and a 12 month high of $116.65. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 64.22, a P/E/G ratio of 1.35 and a beta of 0.54. The business has a 50-day simple moving average of $96.29 and a 200-day simple moving average of $96.21.

HealthEquity (NASDAQ:HQY - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.16. HealthEquity had a net margin of 9.80% and a return on equity of 11.01%. The firm had revenue of $330.80 million for the quarter, compared to analyst estimates of $322.25 million. During the same quarter in the previous year, the firm posted $0.80 EPS. HealthEquity has set its FY 2026 guidance at 3.610-3.78 EPS. On average, analysts anticipate that HealthEquity, Inc. will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Henry Fiore sold 1,794 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $101.73, for a total transaction of $182,503.62. Following the completion of the transaction, the executive vice president owned 53,225 shares of the company's stock, valued at $5,414,579.25. This trade represents a 3.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jon Kessler sold 97,767 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $112.05, for a total value of $10,954,792.35. Following the transaction, the director directly owned 75,000 shares of the company's stock, valued at approximately $8,403,750. This trade represents a 56.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 291,744 shares of company stock valued at $32,705,007 over the last ninety days. Company insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

HQY has been the subject of several research reports. The Goldman Sachs Group increased their target price on HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Royal Bank Of Canada raised their target price on HealthEquity from $112.00 to $117.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Barrington Research raised their price objective on HealthEquity from $112.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. JMP Securities increased their price objective on shares of HealthEquity from $110.00 to $117.00 and gave the company a "market outperform" rating in a research note on Wednesday, June 4th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $120.00 price target (up from $115.00) on shares of HealthEquity in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $118.55.

About HealthEquity

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.