Timpani Capital Management LLC purchased a new stake in shares of Health Insurance Innovations, Inc. (NASDAQ:HIIQ) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 156,332 shares of the financial services provider’s stock, valued at approximately $3,674,000. Timpani Capital Management LLC owned 1.35% of Health Insurance Innovations as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Health Insurance Innovations during the second quarter valued at $14,467,000. Renaissance Technologies LLC lifted its stake in shares of Health Insurance Innovations by 180.6% during the first quarter. Renaissance Technologies LLC now owns 600,203 shares of the financial services provider’s stock valued at $9,603,000 after acquiring an additional 386,303 shares during the period. Lyon Street Capital LLC acquired a new position in shares of Health Insurance Innovations during the first quarter valued at $8,772,000. Dialectic Capital Management LP lifted its stake in shares of Health Insurance Innovations by 39.7% during 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 acquiring an additional 141,083 shares during the period. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in shares of Health Insurance Innovations by 12.5% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 448,955 shares of the financial services provider’s stock valued at $10,550,000 after acquiring an additional 50,000 shares during the period. 90.32% of the stock is currently owned by institutional investors and hedge funds.

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Several equities analysts have recently issued reports on the company. ValuEngine lowered Health Insurance Innovations from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Zacks Investment Research raised Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Friday, August 4th. Canaccord Genuity reaffirmed a “buy” rating and set a $39.00 price target (up previously from $30.00) on shares of Health Insurance Innovations in a research note on Friday, August 4th. Craig Hallum reaffirmed a “buy” rating and set a $38.00 price target (up previously from $28.00) on shares of Health Insurance Innovations in a research note on Thursday, August 3rd. Finally, TheStreet raised Health Insurance Innovations from a “c” rating to a “b-” rating in a research note on Monday, May 22nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $31.33.

Health Insurance Innovations, Inc. (NASDAQ:HIIQ) traded down 1.64% during midday trading on Friday, reaching $29.90. The company had a trading volume of 641,931 shares. Health Insurance Innovations, Inc. has a 12-month low of $4.00 and a 12-month high of $37.38. The stock has a 50-day moving average price of $31.55 and a 200 day moving average price of $22.64. The company has a market capitalization of $372.82 million, a PE ratio of 24.19 and a beta of 0.65.

Health Insurance Innovations (NASDAQ:HIIQ) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.13. Health Insurance Innovations had a return on equity of 22.89% and a net margin of 5.56%. The company had revenue of $61.80 million for the quarter, compared to the consensus estimate of $53.69 million. The business’s revenue for the quarter was up 38.9% on a year-over-year basis. Equities analysts forecast that Health Insurance Innovations, Inc. will post $1.53 EPS for the current year.

In other Health Insurance Innovations news, insider Sheldon Wang sold 5,149 shares of Health Insurance Innovations stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $21.60, for a total transaction of $111,218.40. Following the transaction, the insider now directly owns 228,751 shares of the company’s stock, valued at approximately $4,941,021.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael D. Hershberger sold 5,000 shares of Health Insurance Innovations stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $23.22, for a total value of $116,100.00. Following the transaction, the chief financial officer now directly owns 105,369 shares in the company, valued at $2,446,668.18. The disclosure for this sale can be found here. Insiders have sold a total of 238,288 shares of company stock worth $6,523,892 over the last ninety days. Company insiders own 30.00% of the company’s stock.

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.

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

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