Health Insurance Innovations, Inc. (HIIQ) Downgraded by TheStreet to C
Several other brokerages also recently weighed in on HIIQ. Canaccord Genuity restated a buy rating and set a $39.00 price objective on shares of Health Insurance Innovations in a research report on Friday, September 1st. ValuEngine upgraded shares of Health Insurance Innovations from a hold rating to a buy rating in a research note on Friday, September 1st. Cantor Fitzgerald reissued a buy rating and issued a $38.00 price target on shares of Health Insurance Innovations in a research report on Friday, September 1st. Zacks Investment Research raised shares of Health Insurance Innovations from a hold rating to a strong-buy rating and set a $27.00 price target for the company in a research report on Wednesday, June 21st. Finally, Raymond James Financial, Inc. restated a market perform rating on shares of Health Insurance Innovations in a research note on Monday, June 26th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Health Insurance Innovations currently has a consensus rating of Buy and an average target price of $31.33.
Health Insurance Innovations (NASDAQ HIIQ) traded up 6.55% during mid-day trading on Thursday, reaching $15.45. 781,133 shares of the company were exchanged. The stock has a 50-day moving average of $30.30 and a 200 day moving average of $22.93. Health Insurance Innovations has a 1-year low of $4.00 and a 1-year high of $37.38. The firm has a market capitalization of $192.65 million, a P/E ratio of 12.50 and a beta of 0.53.
Health Insurance Innovations (NASDAQ:HIIQ) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.13. The firm had revenue of $61.80 million during the quarter, compared to analysts’ expectations of $53.69 million. Health Insurance Innovations had a return on equity of 22.89% and a net margin of 5.56%. The business’s revenue was up 38.9% on a year-over-year basis. Equities research analysts forecast that Health Insurance Innovations will post $1.53 earnings per share for the current year.
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In related news, insider Sheldon Wang sold 4,750 shares of the stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $25.80, for a total transaction of $122,550.00. Following the completion of the sale, the insider now directly owns 224,001 shares of the company’s stock, valued at $5,779,225.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bruce Telkamp sold 30,000 shares of Health Insurance Innovations stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $26.68, for a total transaction of $800,400.00. Following the completion of the transaction, the chief executive officer now owns 104,001 shares in the company, valued at $2,774,746.68. The disclosure for this sale can be found here. Insiders have sold a total of 189,827 shares of company stock worth $5,479,608 over the last three months. 30.00% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. Morgan Stanley lifted its stake in shares of Health Insurance Innovations by 240.2% in the 1st quarter. Morgan Stanley now owns 70,397 shares of the financial services provider’s stock worth $1,127,000 after acquiring an additional 49,703 shares during the period. Tudor Investment Corp ET AL acquired a new position in shares of Health Insurance Innovations during the first quarter worth about $648,000. Granite Point Capital Management L.P. increased its stake in shares of Health Insurance Innovations by 8.8% during the second quarter. Granite Point Capital Management L.P. now owns 87,900 shares of the financial services provider’s stock worth $2,066,000 after acquiring an additional 7,100 shares during the period. Timpani Capital Management LLC acquired a new position in shares of Health Insurance Innovations during the second quarter worth about $3,674,000. Finally, Vanguard Group Inc. raised its holdings in Health Insurance Innovations by 92.2% during the first quarter. Vanguard Group Inc. now owns 406,293 shares of the financial services provider’s stock worth $6,500,000 after purchasing an additional 194,907 shares in the last quarter. Institutional investors own 66.21% of the company’s stock.
Health Insurance Innovations Company Profile
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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