Tealwood Asset Management Inc. Has $4.96 Million Stock Holdings in Ebix Inc (NASDAQ:EBIX)
Tealwood Asset Management Inc. increased its position in Ebix Inc (NASDAQ:EBIX) by 75.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,837 shares of the technology company’s stock after purchasing an additional 42,601 shares during the quarter. Ebix makes up 2.0% of Tealwood Asset Management Inc.’s portfolio, making the stock its 3rd largest holding. Tealwood Asset Management Inc. owned approximately 0.32% of Ebix worth $4,964,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of EBIX. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ebix by 64.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,994 shares of the technology company’s stock valued at $100,000 after buying an additional 780 shares in the last quarter. Advisor Group Inc. boosted its stake in Ebix by 70.8% in the 2nd quarter. Advisor Group Inc. now owns 2,227 shares of the technology company’s stock valued at $113,000 after purchasing an additional 923 shares during the period. Bremer Bank National Association bought a new stake in Ebix in the 1st quarter valued at $167,000. KBC Group NV boosted its stake in Ebix by 61.9% in the 2nd quarter. KBC Group NV now owns 3,527 shares of the technology company’s stock valued at $177,000 after purchasing an additional 1,348 shares during the period. Finally, Pearl River Capital LLC boosted its stake in Ebix by 813.0% in the 1st quarter. Pearl River Capital LLC now owns 3,652 shares of the technology company’s stock valued at $180,000 after purchasing an additional 3,252 shares during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the company. BidaskClub downgraded Ebix from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 17th. TheStreet downgraded Ebix from a “c+” rating to a “f” rating in a research note on Thursday, July 18th. BMO Capital Markets reduced their price target on Ebix from $52.00 to $50.00 and set a “market perform” rating for the company in a research note on Friday, August 9th. Finally, Maxim Group restated a “buy” rating on shares of Ebix in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $36.30.
Ebix (NASDAQ:EBIX) last released its earnings results on Thursday, August 8th. The technology company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.06). The company had revenue of $144.28 million for the quarter, compared to the consensus estimate of $150.41 million. Ebix had a net margin of 16.72% and a return on equity of 22.55%. The business’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. As a group, sell-side analysts predict that Ebix Inc will post 4.41 EPS for the current fiscal year.
Ebix, Inc provides software and e-commerce solutions to insurance, finance, healthcare, and e-learning industries. It offers software development, customization, and consulting services to various entities in the insurance industry, including carriers, brokers, exchanges, and standard making bodies. The company operates data exchanges in the areas of finance, travel, life insurance, annuities, employee health benefits, risk management, workers compensation, insurance underwriting, and property and casualty (P&C) insurance.
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