Health Insurance Innovations, Inc. (HIIQ) Given Consensus Rating of “Buy” by Brokerages
Health Insurance Innovations, Inc. (NASDAQ:HIIQ) has received a consensus recommendation of “Buy” from the eight analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $25.20.
HIIQ has been the topic of a number of research analyst reports. TheStreet raised shares of Health Insurance Innovations from a “c” rating to a “b-” rating in a research note on Monday, May 22nd. Zacks Investment Research raised shares of Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Friday, June 2nd. Craig Hallum initiated coverage on shares of Health Insurance Innovations in a research note on Monday, June 12th. They issued a “buy” rating and a $28.00 price target on the stock. Canaccord Genuity initiated coverage on shares of Health Insurance Innovations in a research note on Monday, March 13th. They issued a “buy” rating and a $28.00 price target on the stock. Finally, Raymond James Financial, Inc. raised shares of Health Insurance Innovations from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a research note on Thursday, May 4th.
Health Insurance Innovations (NASDAQ:HIIQ) traded down 4.83% during mid-day trading on Monday, reaching $23.65. 196,468 shares of the company were exchanged. The company has a 50 day moving average of $20.83 and a 200-day moving average of $17.76. Health Insurance Innovations has a 1-year low of $3.73 and a 1-year high of $25.25. The company has a market capitalization of $279.47 million, a price-to-earnings ratio of 21.34 and a beta of 0.65.
Health Insurance Innovations (NASDAQ:HIIQ) last released its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The business 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 4.77% and a return on equity of 20.05%. On average, equities research analysts forecast that Health Insurance Innovations will post $1.44 EPS for the current year.
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In related news, CFO Michael D. Hershberger sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $15.94, for a total transaction of $79,700.00. Following the sale, the chief financial officer now directly owns 113,369 shares of the company’s stock, valued at approximately $1,807,101.86. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sheldon Wang sold 24,750 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $19.73, for a total transaction of $488,317.50. Following the sale, the insider now directly owns 236,001 shares in the company, valued at $4,656,299.73. The disclosure for this sale can be found here. Insiders sold a total of 148,391 shares of company stock worth $2,847,153 over the last three months. Insiders own 30.00% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of Health Insurance Innovations by 96.0% in the first quarter. Goldman Sachs Group Inc. now owns 77,001 shares of the financial services provider’s stock valued at $1,232,000 after buying an additional 37,711 shares during the last quarter. Lyon Street Capital LLC acquired a new stake in shares of Health Insurance Innovations during the first quarter valued at $8,772,000. Tudor Investment Corp ET AL acquired a new stake in shares of Health Insurance Innovations during the first quarter valued at $648,000. Summit Partners Public Asset Management LLC acquired a new stake in shares of Health Insurance Innovations during the first quarter valued at $4,320,000. Finally, Symmetry Peak Management LLC acquired a new stake in shares of Health Insurance Innovations during the first quarter valued at $504,000. 70.48% of the stock is currently owned by hedge funds and other institutional investors.
Health Insurance Innovations Company Profile
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.
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