Health Insurance Innovations, Inc. (NASDAQ:HIIQ) rose 10.1% on Monday . The stock traded as high as $18.80 and last traded at $18.60. Approximately 1,909,763 shares changed hands during trading, an increase of 89% from the average daily volume of 1,011,840 shares. The stock had previously closed at $16.90.

HIIQ has been the subject of several analyst reports. Canaccord Genuity reissued a “buy” rating and set a $39.00 price target on shares of Health Insurance Innovations in a research report on Friday, September 1st. ValuEngine raised shares of Health Insurance Innovations from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Cantor Fitzgerald reissued a “buy” rating and set a $38.00 price target on shares of Health Insurance Innovations in a research report on Friday, September 1st. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Health Insurance Innovations in a research report on Monday, June 26th. Finally, Craig Hallum initiated coverage on shares of Health Insurance Innovations in a research report on Monday, June 12th. They set a “buy” rating and a $28.00 price target for the company. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Health Insurance Innovations has a consensus rating of “Buy” and an average target price of $31.33.

The company has a market capitalization of $231.92 million, a price-to-earnings ratio of 15.05 and a beta of 0.53. The company has a 50-day moving average of $25.41 and a 200 day moving average of $22.98.

Health Insurance Innovations (NASDAQ:HIIQ) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.13. The firm had revenue of $61.80 million during the quarter, compared to analyst estimates of $53.69 million. Health Insurance Innovations had a net margin of 5.56% and a return on equity of 22.89%. The firm’s quarterly revenue was up 38.9% compared to the same quarter last year. Equities research analysts predict that Health Insurance Innovations, Inc. will post $1.53 earnings per share for the current fiscal year.

In related news, insider Sheldon Wang sold 4,750 shares of the company’s stock in a transaction dated Thursday, July 13th. The shares were 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 of the company’s stock, valued at $5,779,225.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert S. Murley acquired 3,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was acquired at an average cost of $30.21 per share, with a total value of $90,630.00. Following the completion of the purchase, the director now owns 34,734 shares of the company’s stock, valued at $1,049,314.14. The disclosure for this purchase can be found here. Insiders have sold 189,827 shares of company stock valued at $5,479,608 over the last three months. Insiders own 30.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in HIIQ. Russell Investments Group Ltd. purchased a new stake in Health Insurance Innovations in the second quarter worth about $14,467,000. Lyon Street Capital LLC purchased a new stake in Health Insurance Innovations in the first quarter worth about $8,772,000. Capital World Investors purchased a new stake in Health Insurance Innovations in the second quarter worth about $11,680,000. Renaissance Technologies LLC lifted its stake in Health Insurance Innovations by 68.3% in the second quarter. Renaissance Technologies LLC now owns 1,010,400 shares of the financial services provider’s stock worth $23,744,000 after acquiring an additional 410,197 shares during the period. Finally, Summit Partners Public Asset Management LLC purchased a new stake in Health Insurance Innovations in the first quarter worth about $4,320,000. 66.21% of the stock is owned by institutional investors.

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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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