Shares of Health Insurance Innovations Inc (NASDAQ:HIIQ) were down 8.6% during trading on Wednesday . The stock traded as low as $49.01 and last traded at $50.03. Approximately 1,045,384 shares traded hands during mid-day trading, an increase of 169% from the average daily volume of 388,525 shares. The stock had previously closed at $54.73.
Several analysts recently commented on HIIQ shares. BidaskClub lowered Health Insurance Innovations from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 4th. B. Riley boosted their price target on Health Insurance Innovations from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, September 27th. ValuEngine raised Health Insurance Innovations from a “hold” rating to a “buy” rating in a research note on Thursday, July 5th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $65.00 price target on shares of Health Insurance Innovations in a research note on Thursday, August 16th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $62.00 price objective (up previously from $55.00) on shares of Health Insurance Innovations in a research report on Thursday, August 2nd. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $47.51.
The stock has a market cap of $1.03 billion, a PE ratio of 41.69 and a beta of 0.54.
Health Insurance Innovations (NASDAQ:HIIQ) last issued its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Health Insurance Innovations had a return on equity of 19.43% and a net margin of 5.39%. The firm had revenue of $71.70 million during the quarter, compared to the consensus estimate of $70.51 million. During the same quarter in the previous year, the company posted $0.46 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Research analysts predict that Health Insurance Innovations Inc will post 2.06 earnings per share for the current year.
In other Health Insurance Innovations news, CEO of HealthPocket, Inc. division Bruce Telkamp sold 7,517 shares of Health Insurance Innovations stock in a transaction on Monday, August 6th. The stock was sold at an average price of $43.20, for a total value of $324,734.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sheldon Wang sold 10,000 shares of Health Insurance Innovations stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $37.05, for a total value of $370,500.00. Following the completion of the transaction, the insider now owns 38,675 shares of the company’s stock, valued at approximately $1,432,908.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,110 shares of company stock valued at $980,909. Corporate insiders own 55.94% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in HIIQ. Point72 Asset Management L.P. bought a new stake in shares of Health Insurance Innovations during the second quarter worth $7,759,000. Peregrine Capital Management LLC bought a new stake in shares of Health Insurance Innovations during the second quarter worth $7,525,000. American Century Companies Inc. raised its position in shares of Health Insurance Innovations by 1,809.1% during the second quarter. American Century Companies Inc. now owns 211,507 shares of the financial services provider’s stock worth $6,842,000 after acquiring an additional 200,428 shares during the last quarter. Argent Capital Management LLC raised its position in shares of Health Insurance Innovations by 170.9% during the second quarter. Argent Capital Management LLC now owns 127,700 shares of the financial services provider’s stock worth $4,131,000 after acquiring an additional 80,555 shares during the last quarter. Finally, Royce & Associates LP bought a new stake in shares of Health Insurance Innovations during the second quarter worth $2,462,000. Institutional investors own 86.89% of the company’s stock.
Health Insurance Innovations Company Profile (NASDAQ:HIIQ)
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 provides three months of health insurance coverage with various deductible and copay levels; health benefit insurance plans, which offer daily cash benefit for hospital treatment and doctor office visits, as well as accidental injury and death or dismemberment benefits; and supplemental insurance products, including pharmacy benefit cards, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and life insurance policies.
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