AWM Investment Company Inc. lowered its stake in Health Insurance Innovations, Inc. (NASDAQ:HIIQ) by 26.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 108,347 shares of the financial services provider’s stock after selling 39,753 shares during the quarter. AWM Investment Company Inc. owned 0.87% of Health Insurance Innovations worth $2,546,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its stake in Health Insurance Innovations by 68.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,010,400 shares of the financial services provider’s stock valued at $23,744,000 after acquiring an additional 410,197 shares during the period. Lyon Street Capital LLC grew its stake in Health Insurance Innovations by 14.4% in the 2nd quarter. Lyon Street Capital LLC now owns 627,079 shares of the financial services provider’s stock valued at $14,736,000 after acquiring an additional 78,818 shares during the period. Russell Investments Group Ltd. acquired a new stake in Health Insurance Innovations in the 2nd quarter valued at $14,467,000. Capital World Investors acquired a new stake in Health Insurance Innovations in the 2nd quarter valued at $11,680,000. Finally, Emerald Mutual Fund Advisers Trust grew its stake in Health Insurance Innovations by 12.5% in the 2nd 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. 66.22% of the stock is currently owned by hedge funds and other institutional investors.

HIIQ has been the topic of a number of research analyst reports. Canaccord Genuity reissued a “buy” rating and issued a $39.00 price target on shares of Health Insurance Innovations in a research note on Friday, September 1st. ValuEngine raised 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 note on Friday, September 1st. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Health Insurance Innovations in a research note on Monday, June 26th. Finally, Zacks Investment Research cut shares of Health Insurance Innovations from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Health Insurance Innovations currently has a consensus rating of “Buy” and an average price target of $30.86.

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Shares of Health Insurance Innovations, Inc. (NASDAQ:HIIQ) traded down 1.494% during midday trading on Friday, reaching $21.425. 152,561 shares of the company’s stock traded hands. Health Insurance Innovations, Inc. has a 52 week low of $4.00 and a 52 week high of $37.38. The company has a market capitalization of $267.15 million, a PE ratio of 17.334 and a beta of 0.51. The stock’s 50 day moving average is $21.67 and its 200-day moving average is $23.27.

Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $61.80 million during the quarter, compared to analysts’ expectations of $53.69 million. The business’s quarterly revenue was up 38.9% on a year-over-year basis. On average, analysts forecast that Health Insurance Innovations, Inc. will post $1.57 earnings per share for the current fiscal year.

Health Insurance Innovations declared that its Board of Directors has authorized a share repurchase plan on Monday, October 16th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, CFO Michael D. Hershberger sold 17,769 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $31.42, for a total value of $558,301.98. Following the completion of the transaction, the chief financial officer now owns 94,569 shares in the company, valued at $2,971,357.98. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Bruce Telkamp sold 15,000 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $27.76, for a total value of $416,400.00. Following the completion of the transaction, the chief executive officer now owns 74,001 shares of the company’s stock, valued at approximately $2,054,267.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,077 shares of company stock valued at $4,159,158. 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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