Health Insurance Innovations (NASDAQ:HIIQ) Trading 6.2% Higher

Health Insurance Innovations Inc (NASDAQ:HIIQ) traded up 6.2% on Wednesday . The stock traded as high as $20.05 and last traded at $19.92, 533,380 shares changed hands during mid-day trading. A decline of 35% from the average session volume of 824,722 shares. The stock had previously closed at $18.75.

Several equities analysts have weighed in on the company. Craig Hallum dropped their target price on Health Insurance Innovations from $65.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Lake Street Capital dropped their target price on Health Insurance Innovations from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. BidaskClub raised Health Insurance Innovations from a “strong sell” rating to a “sell” rating in a research report on Friday. ValuEngine downgraded Health Insurance Innovations from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Finally, Zacks Investment Research raised Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Saturday, August 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Health Insurance Innovations presently has a consensus rating of “Buy” and an average price target of $51.13.

The firm has a 50 day moving average price of $19.36 and a 200-day moving average price of $25.18. 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 firm has a market cap of $279.35 million, a PE ratio of 10.66 and a beta of 1.42.

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 (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.46. The business had revenue of $58.36 million during the quarter, compared to analysts’ expectations of $76.76 million. Health Insurance Innovations had a return on equity of 29.83% and a net margin of 3.44%. The business’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. Equities analysts forecast that Health Insurance Innovations Inc will post 3.54 earnings per share for the current fiscal year.

In other news, major shareholder Michael W. Kosloske sold 41,393 shares of Health Insurance Innovations stock in a transaction dated Friday, June 28th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Michael W. Kosloske sold 51,160 shares of Health Insurance Innovations stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $26.32, for a total value of $1,346,531.20. Following the completion of the transaction, the insider now owns 320 shares of the company’s stock, valued at approximately $8,422.40. The disclosure for this sale can be found here. Insiders sold a total of 327,691 shares of company stock valued at $8,504,415 in the last quarter. Company insiders own 47.88% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. CenterStar Asset Management LLC purchased a new position in shares of Health Insurance Innovations in the 2nd quarter valued at about $27,000. Aperio Group LLC purchased a new position in shares of Health Insurance Innovations in the 2nd quarter valued at about $29,000. BNP Paribas Arbitrage SA boosted its stake in shares of Health Insurance Innovations by 8,309.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,691 shares of the financial services provider’s stock valued at $72,000 after buying an additional 2,659 shares during the period. OLD Second National Bank of Aurora lifted its stake in Health Insurance Innovations by 44.9% during the second quarter. OLD Second National Bank of Aurora now owns 3,741 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 1,159 shares during the last quarter. Finally, Advisory Services Network LLC lifted its stake in Health Insurance Innovations by 13.4% during the second quarter. Advisory Services Network LLC now owns 4,222 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.

About Health Insurance Innovations (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 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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