Russell Investments Group Ltd. lessened its holdings in Health Insurance Innovations Inc (NASDAQ:HIIQ) by 62.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,423 shares of the financial services provider’s stock after selling 178,766 shares during the quarter. Russell Investments Group Ltd. owned about 0.77% of Health Insurance Innovations worth $2,781,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. B. Riley Financial Inc. boosted its position in Health Insurance Innovations by 97.1% in the 1st quarter. B. Riley Financial Inc. now owns 377,608 shares of the financial services provider’s stock worth $10,127,000 after purchasing an additional 185,988 shares in the last quarter. Wasatch Advisors Inc. boosted its position in Health Insurance Innovations by 103.9% in the 1st quarter. Wasatch Advisors Inc. now owns 288,943 shares of the financial services provider’s stock worth $7,749,000 after purchasing an additional 147,245 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its position in shares of Health Insurance Innovations by 46.1% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 317,295 shares of the financial services provider’s stock valued at $8,224,000 after buying an additional 100,170 shares in the last quarter. Raymond James & Associates lifted its position in shares of Health Insurance Innovations by 1,151.6% during the 1st quarter. Raymond James & Associates now owns 99,176 shares of the financial services provider’s stock valued at $2,660,000 after buying an additional 91,252 shares in the last quarter. Finally, 361 Capital LLC purchased a new position in shares of Health Insurance Innovations during the 1st quarter valued at approximately $2,303,000. Institutional investors own 98.55% of the company’s stock.

HIIQ stock traded up $1.47 during midday trading on Tuesday, reaching $21.24. The stock had a trading volume of 291,624 shares, compared to its average volume of 462,631. The company’s fifty day simple moving average is $19.26 and its 200 day simple moving average is $24.81. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.45. The company has a market cap of $284.66 million, a price-to-earnings ratio of 11.54 and a beta of 1.42. Health Insurance Innovations Inc has a 52-week low of $16.25 and a 52-week high of $63.13.

Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.46. The company had revenue of $58.36 million for the quarter, compared to analyst estimates of $76.76 million. Health Insurance Innovations had a return on equity of 29.83% and a net margin of 3.44%. The firm’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 EPS. Sell-side analysts predict that Health Insurance Innovations Inc will post 3.54 EPS for the current year.

HIIQ has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Saturday, August 10th. ValuEngine lowered Health Insurance Innovations from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Craig Hallum decreased their target price on Health Insurance Innovations from $65.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Lake Street Capital decreased their target price on Health Insurance Innovations from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, BidaskClub upgraded Health Insurance Innovations from a “strong sell” rating to a “sell” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $51.13.

In other Health Insurance Innovations news, major shareholder Michael W. Kosloske sold 51,160 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $26.32, for a total value of $1,346,531.20. Following the transaction, the insider now owns 320 shares in the company, valued at approximately $8,422.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Michael W. Kosloske sold 41,393 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $25.59, for a total value of $1,059,246.87. Following the completion of the transaction, the insider now owns 320 shares in the company, valued at approximately $8,188.80. The disclosure for this sale can be found here. Insiders sold a total of 327,691 shares of company stock worth $8,504,415 in the last 90 days. 47.88% of the stock is currently owned by insiders.

Health Insurance Innovations Company Profile

Health Insurance Innovations, Inc operates as a cloud-based technology platform and distributor of individual and family health insurance plans, and supplemental products in the United States. It offers short-term medical plans that provide 3 months to 12 months of health insurance coverage with various deductible and copay levels; health benefit insurance plans, which offer fixed cash benefits and additional benefits for procedures and services; and supplemental insurance products, including life insurance policies, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and pharmacy benefit cards.

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

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