Health Insurance Innovations Inc (NASDAQ:HIIQ) – Equities research analysts at B. Riley reduced their Q4 2018 earnings per share estimates for shares of Health Insurance Innovations in a report issued on Monday, February 11th. B. Riley analyst R. Binner now expects that the financial services provider will earn $0.56 per share for the quarter, down from their previous estimate of $0.58. B. Riley currently has a “Buy” rating and a $55.00 target price on the stock.
A number of other research firms have also recently commented on HIIQ. Zacks Investment Research raised Health Insurance Innovations from a “strong sell” rating to a “hold” rating in a research note on Friday, January 4th. ValuEngine raised Health Insurance Innovations from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Raymond James cut their target price on Health Insurance Innovations from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, December 14th. BidaskClub raised Health Insurance Innovations from a “hold” rating to a “buy” rating in a research note on Friday, January 25th. Finally, TheStreet raised Health Insurance Innovations from a “c” rating to a “b-” rating in a research note on Wednesday, October 31st. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $56.78.
Hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. lifted its holdings in Health Insurance Innovations by 220.3% in the fourth quarter. Meeder Asset Management Inc. now owns 2,841 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 1,954 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Health Insurance Innovations by 328.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,310 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 2,538 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Health Insurance Innovations in the third quarter valued at about $119,000. Sawtooth Solutions LLC bought a new position in Health Insurance Innovations in the third quarter valued at about $211,000. Finally, Ibex Investors LLC bought a new position in Health Insurance Innovations in the third quarter valued at about $218,000. 86.04% of the stock is currently owned by institutional investors.
In related news, CEO Gavin Southwell sold 65,899 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $40.31, for a total transaction of $2,656,388.69. Following the sale, the chief executive officer now directly owns 609,723 shares of the company’s stock, valued at $24,577,934.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert S. Murley acquired 6,500 shares of the company’s stock in a transaction that occurred on Monday, December 17th. The shares were acquired at an average cost of $30.85 per share, for a total transaction of $200,525.00. The disclosure for this purchase can be found here. Insiders have sold 116,288 shares of company stock worth $4,684,669 over the last ninety days. 55.94% of the stock is currently owned by insiders.
About Health Insurance Innovations
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 three months of health insurance coverage with various deductible and copay levels; health benefit insurance plans, which offer daily cash benefit for hospital treatment and doctor office visits, as well as accidental injury and death or dismemberment benefits; and supplemental insurance products, including pharmacy benefit cards, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and life insurance policies.
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