Health Insurance Innovations Inc (HIIQ) Raised to Outperform at Raymond James Financial, Inc.

Raymond James Financial, Inc. upgraded shares of Health Insurance Innovations Inc (NASDAQ:HIIQ) from a market perform rating to an outperform rating in a report published on Thursday, May 4th. They currently have $20.00 target price on the financial services provider’s stock.

Other equities analysts also recently issued reports about the stock. TheStreet downgraded shares of Health Insurance Innovations from a b- rating to a c rating in a report on Thursday, April 6th. First Analysis assumed coverage on shares of Health Insurance Innovations in a report on Friday, March 3rd. They set an overweight rating on the stock. Canaccord Genuity assumed coverage on shares of Health Insurance Innovations in a report on Monday, March 13th. They set a buy rating and a $28.00 price target on the stock. Zacks Investment Research upgraded shares of Health Insurance Innovations from a hold rating to a strong-buy rating and set a $19.00 price target on the stock in a report on Monday, March 6th. Finally, Cantor Fitzgerald assumed coverage on shares of Health Insurance Innovations in a report on Thursday, March 30th. They set an overweight rating and a $30.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, Health Insurance Innovations presently has a consensus rating of Buy and an average target price of $24.00.

Health Insurance Innovations (NASDAQ:HIIQ) traded up 1.71% during midday trading on Thursday, hitting $20.85. The company’s stock had a trading volume of 268,247 shares. Health Insurance Innovations has a 52-week low of $3.72 and a 52-week high of $22.83. The stock has a 50 day moving average of $17.74 and a 200 day moving average of $15.99. The company has a market cap of $246.38 million, a PE ratio of 18.82 and a beta of 0.67.

Health Insurance Innovations (NASDAQ:HIIQ) last issued its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.31 by $0.05. The company had revenue of $55.87 million for the quarter, compared to the consensus estimate of $54.18 million. Health Insurance Innovations had a net margin of 2.91% and a return on equity of 16.47%. On average, equities analysts expect that Health Insurance Innovations will post $1.44 EPS for the current year.

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In other news, insider Michael W. Kosloske sold 3,000,000 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $13.16, for a total transaction of $39,480,000.00. Following the transaction, the insider now directly owns 100 shares in the company, valued at $1,316. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sheldon Wang sold 7,560 shares of the stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $16.77, for a total transaction of $126,781.20. Following the transaction, the insider now owns 250,001 shares in the company, valued at $4,192,516.77. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,161,901 shares of company stock worth $42,504,453. Insiders own 52.70% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Cannell Capital LLC boosted its stake in Health Insurance Innovations by 0.4% in the third quarter. Cannell Capital LLC now owns 1,174,962 shares of the financial services provider’s stock worth $6,169,000 after buying an additional 4,343 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Health Insurance Innovations by 180.6% in the first quarter. Renaissance Technologies LLC now owns 600,203 shares of the financial services provider’s stock worth $9,603,000 after buying an additional 386,303 shares during the last quarter. Lyon Street Capital LLC purchased a new stake in Health Insurance Innovations during the first quarter worth approximately $8,772,000. Dialectic Capital Management LP boosted its stake in Health Insurance Innovations by 39.7% in the first quarter. Dialectic Capital Management LP now owns 496,300 shares of the financial services provider’s stock worth $7,941,000 after buying an additional 141,083 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Health Insurance Innovations by 92.2% in the first quarter. Vanguard Group Inc. now owns 406,293 shares of the financial services provider’s stock worth $6,500,000 after buying an additional 194,907 shares during the last quarter. 23.18% of the stock is owned by institutional investors.

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.

12 Month Chart for NASDAQ:HIIQ

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