Osterweis Capital Management Inc. bought a new stake in shares of Health Insurance Innovations, Inc. (NASDAQ:HIIQ) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 120,780 shares of the financial services provider’s stock, valued at approximately $2,838,000. Osterweis Capital Management Inc. owned about 0.97% of Health Insurance Innovations at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Morgan Stanley raised its stake in Health Insurance Innovations by 240.2% during the 1st quarter. Morgan Stanley now owns 70,397 shares of the financial services provider’s stock valued at $1,127,000 after purchasing an additional 49,703 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in Health Insurance Innovations during the 1st quarter valued at $648,000. Granite Point Capital Management L.P. raised its stake in Health Insurance Innovations by 8.8% during the 2nd quarter. Granite Point Capital Management L.P. now owns 87,900 shares of the financial services provider’s stock valued at $2,066,000 after purchasing an additional 7,100 shares during the last quarter. Timpani Capital Management LLC acquired a new position in Health Insurance Innovations during the 2nd quarter valued at $3,674,000. Finally, Vanguard Group Inc. raised its stake in Health Insurance Innovations by 92.2% during the 1st quarter. Vanguard Group Inc. now owns 406,293 shares of the financial services provider’s stock valued at $6,500,000 after purchasing an additional 194,907 shares during the last quarter. Hedge funds and other institutional investors own 66.21% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Osterweis Capital Management Inc. Buys Shares of 120,780 Health Insurance Innovations, Inc. (HIIQ)” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another site, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/10/09/osterweis-capital-management-inc-buys-shares-of-120780-health-insurance-innovations-inc-hiiq.html.

Shares of Health Insurance Innovations, Inc. (NASDAQ HIIQ) traded up 9.17% during trading on Monday, hitting $18.45. 902,379 shares of the stock were exchanged. Health Insurance Innovations, Inc. has a 1-year low of $4.00 and a 1-year high of $37.38. The company has a market cap of $230.05 million, a P/E ratio of 14.93 and a beta of 0.53. The firm’s 50-day moving average is $25.41 and its 200 day moving average is $22.98.

Health Insurance Innovations (NASDAQ:HIIQ) last announced 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 company had revenue of $61.80 million during the quarter, compared to analysts’ expectations of $53.69 million. Health Insurance Innovations had a net margin of 5.56% and a return on equity of 22.89%. The business’s revenue was up 38.9% on a year-over-year basis. Equities analysts forecast that Health Insurance Innovations, Inc. will post $1.53 earnings per share for the current fiscal year.

HIIQ has been the subject of several research analyst reports. Craig Hallum initiated coverage on shares of Health Insurance Innovations in a research note on Monday, June 12th. They set a “buy” rating and a $28.00 target price for the company. Canaccord Genuity reiterated a “buy” rating and set a $30.00 target price on shares of Health Insurance Innovations in a research note on Thursday, July 13th. Zacks Investment Research upgraded shares of Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Friday, August 4th. Cantor Fitzgerald reiterated a “buy” rating and set a $38.00 target price on shares of Health Insurance Innovations in a research note on Friday, September 1st. Finally, ValuEngine upgraded shares of Health Insurance Innovations from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $31.33.

In related news, insider Sheldon Wang sold 4,530 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $32.73, for a total value of $148,266.90. Following the completion of the transaction, the insider now owns 224,894 shares of the company’s stock, valued at $7,360,780.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO of HealthPocket Bruce Telkamp sold 9,970 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $36.19, for a total value of $360,814.30. Following the completion of the transaction, the insider now directly owns 19,500 shares of the company’s stock, valued at approximately $705,705. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,827 shares of company stock valued at $5,479,608. 30.00% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding HIIQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Health Insurance Innovations, Inc. (NASDAQ:HIIQ).

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

Receive News & Stock Ratings for Health Insurance Innovations Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Health Insurance Innovations Inc. and related stocks with our FREE daily email newsletter.