Health Insurance Innovations Inc (HIIQ) is Trellus Management Company LLC’s 10th Largest Position

Trellus Management Company LLC raised its stake in Health Insurance Innovations Inc (NASDAQ:HIIQ) by 0.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,500 shares of the financial services provider’s stock after purchasing an additional 500 shares during the period. Health Insurance Innovations makes up approximately 3.1% of Trellus Management Company LLC’s holdings, making the stock its 10th biggest position. Trellus Management Company LLC owned 0.35% of Health Insurance Innovations worth $1,623,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. State of New Jersey Common Pension Fund D acquired a new position in shares of Health Insurance Innovations in the 4th quarter valued at $12,296,000. Millennium Management LLC acquired a new position in shares of Health Insurance Innovations in the 4th quarter valued at $11,197,000. Cannell Capital LLC raised its stake in shares of Health Insurance Innovations by 66.9% in the 4th quarter. Cannell Capital LLC now owns 777,836 shares of the financial services provider’s stock valued at $20,792,000 after buying an additional 311,829 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Health Insurance Innovations in the 3rd quarter valued at $18,713,000. Finally, Kornitzer Capital Management Inc. KS raised its stake in shares of Health Insurance Innovations by 690.7% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 240,740 shares of the financial services provider’s stock valued at $6,435,000 after buying an additional 210,295 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Gavin Southwell sold 65,899 shares of the firm’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $40.31, for a total value of $2,656,388.69. Following the transaction, the chief executive officer now owns 609,723 shares of the company’s stock, valued at approximately $24,577,934.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Fichthorn bought 93,742 shares of Health Insurance Innovations stock in a transaction dated Wednesday, March 20th. The stock was acquired at an average cost of $29.28 per share, for a total transaction of $2,744,765.76. Following the purchase, the director now directly owns 72,869 shares in the company, valued at approximately $2,133,604.32. The disclosure for this purchase can be found here. Insiders sold a total of 117,666 shares of company stock worth $4,739,789 in the last ninety days. Insiders own 55.94% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. Lake Street Capital increased their price objective on shares of Health Insurance Innovations to $80.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. ValuEngine cut shares of Health Insurance Innovations from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 13th. BidaskClub upgraded shares of Health Insurance Innovations from a “sell” rating to a “hold” rating in a research report on Thursday, January 10th. Zacks Investment Research cut shares of Health Insurance Innovations from a “hold” rating to a “strong sell” rating in a research report on Saturday, December 29th. Finally, B. Riley cut shares of Health Insurance Innovations from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $50.00 to $45.00 in a research report on Wednesday, February 27th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $60.13.

HIIQ traded up $1.27 during midday trading on Tuesday, hitting $26.12. The company had a trading volume of 1,193,745 shares, compared to its average volume of 947,688. The stock has a market capitalization of $434.19 million, a PE ratio of 14.21 and a beta of 1.73. Health Insurance Innovations Inc has a twelve month low of $21.65 and a twelve month high of $63.13.

Health Insurance Innovations (NASDAQ:HIIQ) last posted its quarterly earnings data on Wednesday, March 6th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.21. The firm had revenue of $131.90 million during the quarter, compared to analysts’ expectations of $83.12 million. Health Insurance Innovations had a net margin of 4.49% and a return on equity of 28.34%. The company’s quarterly revenue was up 89.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 EPS. On average, sell-side analysts expect that Health Insurance Innovations Inc will post 2.67 EPS for the current fiscal year.

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Health Insurance Innovations Company Profile

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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Institutional Ownership by Quarter for Health Insurance Innovations (NASDAQ:HIIQ)

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