Raymond James & Associates reduced its stake in Health Insurance Innovations Inc (NASDAQ:HIIQ) by 85.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,924 shares of the financial services provider’s stock after selling 45,159 shares during the period. Raymond James & Associates’ holdings in Health Insurance Innovations were worth $212,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Peregrine Capital Management LLC grew its holdings in shares of Health Insurance Innovations by 33.4% during the fourth quarter. Peregrine Capital Management LLC now owns 263,395 shares of the financial services provider’s stock valued at $7,041,000 after buying an additional 65,906 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in shares of Health Insurance Innovations during the third quarter valued at about $5,692,000. Wesbanco Bank Inc. grew its holdings in shares of Health Insurance Innovations by 56.6% during the fourth quarter. Wesbanco Bank Inc. now owns 22,116 shares of the financial services provider’s stock valued at $591,000 after buying an additional 7,989 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Health Insurance Innovations by 6.9% during the third quarter. BlackRock Inc. now owns 839,358 shares of the financial services provider’s stock valued at $51,745,000 after buying an additional 54,419 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan grew its holdings in shares of Health Insurance Innovations by 66.7% during the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 20,000 shares of the financial services provider’s stock valued at $535,000 after buying an additional 8,000 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on the stock. BidaskClub cut shares of Health Insurance Innovations from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Zacks Investment Research cut shares of Health Insurance Innovations from a “buy” rating to a “hold” rating in a report on Friday, March 8th. ValuEngine cut shares of Health Insurance Innovations from a “sell” rating to a “strong sell” rating in a report on Saturday. Finally, B. Riley cut shares of Health Insurance Innovations from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $50.00 to $45.00 in a report on Wednesday, February 27th. Two analysts have rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $60.13.
Health Insurance Innovations (NASDAQ:HIIQ) last released its quarterly earnings results on Wednesday, March 6th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.21. Health Insurance Innovations had a net margin of 4.49% and a return on equity of 28.34%. The business had revenue of $131.90 million for the quarter, compared to analysts’ expectations of $83.12 million. During the same period in the previous year, the company earned $0.37 earnings per share. The firm’s revenue for the quarter was up 89.8% compared to the same quarter last year. As a group, analysts predict that Health Insurance Innovations Inc will post 2.67 EPS for the current year.
In other Health Insurance Innovations news, CEO Gavin Southwell sold 65,899 shares of Health Insurance Innovations stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $40.31, for a total value of $2,656,388.69. Following the sale, the chief executive officer now owns 609,723 shares of the company’s stock, valued at $24,577,934.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Fichthorn acquired 93,742 shares of the stock in a transaction on Wednesday, March 20th. The stock was bought at an average cost of $29.28 per share, for a total transaction of $2,744,765.76. Following the transaction, the director now owns 72,869 shares of the company’s stock, valued at approximately $2,133,604.32. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 117,666 shares of company stock worth $4,739,789. 55.94% of the stock is owned by corporate insiders.
About Health Insurance Innovations
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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