Health Insurance Innovations (HIIQ) Trading 13.2% Higher

Health Insurance Innovations Inc (NASDAQ:HIIQ) shares traded up 13.2% during trading on Tuesday . The stock traded as high as $21.65 and last traded at $21.35. 1,027,297 shares were traded during mid-day trading, an increase of 6% from the average session volume of 973,437 shares. The stock had previously closed at $18.86.

Several research analysts have recently commented on the stock. Lake Street Capital lifted their price target on shares of Health Insurance Innovations to $80.00 and gave the company a “buy” rating in a report on Thursday, March 7th. ValuEngine downgraded shares of Health Insurance Innovations from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 13th. BidaskClub downgraded shares of Health Insurance Innovations from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. B. Riley downgraded shares of Health Insurance Innovations from a “buy” rating to a “neutral” rating and cut their price objective for the company from $50.00 to $45.00 in a research report on Wednesday, February 27th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $75.00 price objective on shares of Health Insurance Innovations in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $56.78.

The stock has a market cap of $367.56 million, a price-to-earnings ratio of 13.14 and a beta of 1.61.

Health Insurance Innovations (NASDAQ:HIIQ) last released its quarterly earnings results on Monday, May 6th. The financial services provider reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.08). Health Insurance Innovations had a return on equity of 28.56% and a net margin of 3.48%. The company had revenue of $87.33 million for the quarter, compared to the consensus estimate of $83.58 million. During the same quarter last year, the firm posted $0.70 earnings per share. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, equities analysts forecast that Health Insurance Innovations Inc will post 2.81 earnings per share for the current fiscal year.

In other Health Insurance Innovations news, Director John Fichthorn bought 93,742 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were acquired at an average cost of $29.28 per share, for a total transaction of $2,744,765.76. Following the acquisition, the director now directly owns 72,869 shares of the company’s stock, valued at $2,133,604.32. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 47.88% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brown Advisory Inc. increased its position in shares of Health Insurance Innovations by 102.4% in the fourth quarter. Brown Advisory Inc. now owns 21,620 shares of the financial services provider’s stock worth $578,000 after acquiring an additional 10,938 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Health Insurance Innovations in the fourth quarter worth approximately $1,413,000. Peregrine Capital Management LLC increased its position in shares of Health Insurance Innovations by 33.4% in the fourth quarter. Peregrine Capital Management LLC now owns 263,395 shares of the financial services provider’s stock worth $7,041,000 after acquiring an additional 65,906 shares in the last quarter. Wesbanco Bank Inc. increased its position in shares of Health Insurance Innovations by 56.6% in the fourth quarter. Wesbanco Bank Inc. now owns 22,116 shares of the financial services provider’s stock worth $591,000 after acquiring an additional 7,989 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan increased its position in shares of Health Insurance Innovations by 66.7% in the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 20,000 shares of the financial services provider’s stock worth $535,000 after acquiring an additional 8,000 shares in the last quarter. Institutional investors and hedge funds own 99.90% of the company’s stock.

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Health Insurance Innovations Company Profile (NASDAQ:HIIQ)

Health Insurance Innovations, Inc operates as a cloud-based technology platform and distributor of individual and family health insurance plans, and supplemental products in the United States. It offers short-term medical plans that provide 3 months to 12 months of health insurance coverage with various deductible and copay levels; health benefit insurance plans, which offer fixed cash benefits and additional benefits for procedures and services; and supplemental insurance products, including life insurance policies, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and pharmacy benefit cards.

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