Health Insurance Innovations, Inc. (NASDAQ:HIIQ) has received a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $28.25.
HIIQ has been the subject of several analyst reports. Zacks Investment Research downgraded Health Insurance Innovations from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Cantor Fitzgerald initiated coverage on Health Insurance Innovations in a research note on Thursday, March 30th. They issued an “overweight” rating and a $30.00 target price for the company. TheStreet downgraded Health Insurance Innovations from a “b-” rating to a “c” rating in a research note on Thursday, April 6th. Raymond James Financial, Inc. restated a “market perform” rating on shares of Health Insurance Innovations in a research note on Monday, June 26th. Finally, Craig Hallum initiated coverage on Health Insurance Innovations in a research note on Monday, June 12th. They issued a “buy” rating and a $28.00 target price for the company.
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Shares of Health Insurance Innovations (HIIQ) traded up 2.72% during midday trading on Friday, hitting $26.40. 534,643 shares of the stock were exchanged. Health Insurance Innovations has a 1-year low of $3.80 and a 1-year high of $27.15. The firm has a market capitalization of $311.97 million, a price-to-earnings ratio of 23.83 and a beta of 0.64. The stock’s 50-day moving average price is $22.18 and its 200-day moving average price is $18.49.
Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.05. Health Insurance Innovations had a return on equity of 20.05% and a net margin of 4.77%. The company had revenue of $55.87 million during the quarter, compared to analyst estimates of $54.18 million. On average, analysts forecast that Health Insurance Innovations will post $1.44 EPS for the current year.
In related news, CEO of HealthPocket and Consumer Division Bruce Telkamp sold 14,750 shares of the company’s stock in a transaction on Wednesday, April 19th. The stock was sold at an average price of $15.21, for a total value of $224,347.50. Following the sale, the insider now directly owns 111,251 shares of the company’s stock, valued at $1,692,127.71. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sheldon Wang sold 4,750 shares of the company’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $25.80, for a total value of $122,550.00. Following the completion of the sale, the insider now directly owns 224,001 shares in the company, valued at $5,779,225.80. The disclosure for this sale can be found here. Insiders sold a total of 176,233 shares of company stock worth $3,660,410 over the last ninety days. Insiders own 30.00% of the company’s stock.
A number of large investors have recently modified their holdings of HIIQ. Dialectic Capital Management LP boosted its stake in shares of Health Insurance Innovations by 39.7% in the first quarter. Dialectic Capital Management LP now owns 496,300 shares of the financial services provider’s stock valued at $7,941,000 after buying an additional 141,083 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Health Insurance Innovations by 1,031.7% in the fourth quarter. Renaissance Technologies LLC now owns 213,900 shares of the financial services provider’s stock valued at $3,818,000 after buying an additional 195,000 shares during the last quarter. Menta Capital LLC purchased a new stake in shares of Health Insurance Innovations during the first quarter valued at $909,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Health Insurance Innovations during the first quarter valued at $6,383,000. Finally, Millrace Asset Group Inc. purchased a new stake in shares of Health Insurance Innovations during the first quarter valued at $1,840,000. 71.60% of the stock is currently owned by institutional investors.
About Health Insurance Innovations
Health Insurance Innovations, Inc is a developer, distributor and cloud-based administrator of individual and family health insurance plans (IFPs) and supplemental products, which include short-term medical (STM) insurance plans, and guaranteed-issue and underwritten hospital indemnity plans. The Company also develops, distributes and administers supplemental products, which include a range of additional insurance and non-insurance products, such as pharmacy benefit cards, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and life insurance policies that are purchased as supplements to IFP.
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