Bank of New York Mellon Corp Acquires 772 Shares of HireQuest, Inc. (NASDAQ:HQI)

Bank of New York Mellon Corp raised its stake in HireQuest, Inc. (NASDAQ:HQI) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 90,113 shares of the company’s stock after buying an additional 772 shares during the quarter. Bank of New York Mellon Corp owned about 0.64% of HireQuest worth $1,113,000 at the end of the most recent reporting period.

Separately, US Bancorp DE bought a new position in shares of HireQuest during the fourth quarter worth about $2,047,000. Institutional investors and hedge funds own 12.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on HQI shares. DA Davidson reissued a “buy” rating and set a $19.00 price target on shares of HireQuest in a research report on Friday, August 9th. Barrington Research lifted their price objective on shares of HireQuest from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd.

HireQuest Stock Down 0.9 %

HireQuest stock opened at $14.53 on Friday. The stock has a market cap of $203.42 million, a PE ratio of 38.24 and a beta of 1.01. The business’s 50-day moving average price is $13.54 and its two-hundred day moving average price is $12.93. HireQuest, Inc. has a 12-month low of $11.39 and a 12-month high of $17.31.

HireQuest (NASDAQ:HQI) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. The company had revenue of $8.68 million during the quarter, compared to analysts’ expectations of $8.40 million. HireQuest had a return on equity of 9.15% and a net margin of 14.27%. During the same quarter in the prior year, the firm posted $0.15 earnings per share. As a group, analysts expect that HireQuest, Inc. will post 0.59 earnings per share for the current year.

HireQuest Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were issued a $0.06 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.65%. HireQuest’s dividend payout ratio is presently 63.16%.

Insider Buying and Selling at HireQuest

In related news, CEO Richard Hermanns purchased 4,219 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average cost of $12.08 per share, with a total value of $50,965.52. Following the acquisition, the chief executive officer now owns 3,064,788 shares of the company’s stock, valued at $37,022,639.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have purchased 6,888 shares of company stock worth $83,741. Corporate insiders own 45.80% of the company’s stock.

HireQuest Company Profile

HireQuest, Inc provides temporary staffing services in the United States. It offers staffing services, including direct-dispatch, executive search, consultant, unskilled and semi-skilled industrial and construction personnel, clerical and administrative personnel, and permanent placement services, as well as commercial and non-CDL drivers, and skilled personnel in the medical and dental industries.