HireQuest, Inc. (NASDAQ:HQI) Stake Lessened by Inlight Wealth Management LLC

Inlight Wealth Management LLC cut its stake in HireQuest, Inc. (NASDAQ:HQI) by 79.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,190 shares of the company’s stock after selling 16,056 shares during the period. Inlight Wealth Management LLC’s holdings in HireQuest were worth $50,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in HQI. Northern Trust Corp lifted its stake in HireQuest by 9.0% during the fourth quarter. Northern Trust Corp now owns 53,808 shares of the company’s stock valued at $762,000 after purchasing an additional 4,449 shares during the last quarter. Barclays PLC lifted its stake in HireQuest by 10.4% during the fourth quarter. Barclays PLC now owns 8,651 shares of the company’s stock valued at $123,000 after purchasing an additional 814 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in HireQuest during the fourth quarter valued at approximately $309,000. Wells Fargo & Company MN lifted its stake in HireQuest by 36.2% during the fourth quarter. Wells Fargo & Company MN now owns 3,187 shares of the company’s stock valued at $45,000 after purchasing an additional 847 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in HireQuest by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 132,303 shares of the company’s stock valued at $1,874,000 after purchasing an additional 909 shares during the last quarter. 12.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Barrington Research cut their target price on shares of HireQuest from $16.00 to $13.00 and set an “outperform” rating for the company in a research note on Monday, May 12th.

HireQuest Stock Performance

Shares of NASDAQ:HQI opened at $10.06 on Friday. The company has a market cap of $140.84 million, a PE ratio of 40.24 and a beta of 1.20. HireQuest, Inc. has a 52 week low of $9.04 and a 52 week high of $15.75. The firm has a 50 day simple moving average of $10.05 and a 200 day simple moving average of $12.23.

HireQuest (NASDAQ:HQI) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). The firm had revenue of $7.47 million during the quarter, compared to analysts’ expectations of $8.03 million. HireQuest had a net margin of 10.15% and a return on equity of 13.80%. On average, equities analysts predict that HireQuest, Inc. will post 0.28 earnings per share for the current year.

HireQuest Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Monday, June 2nd. HireQuest’s dividend payout ratio (DPR) is currently 96.00%.

HireQuest 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.