Health Insurance Innovations, Inc. (NASDAQ:HIIQ)‘s stock had its “buy” rating restated by equities researchers at Canaccord Genuity in a report issued on Wednesday. They presently have a $39.00 target price on the financial services provider’s stock. Canaccord Genuity’s price target would suggest a potential upside of 83.53% from the stock’s current price.

A number of other analysts have also commented on the company. ValuEngine raised Health Insurance Innovations from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Cantor Fitzgerald reissued a “buy” rating and set a $38.00 price target on shares of Health Insurance Innovations in a research note on Friday, September 1st. Zacks Investment Research raised Health Insurance Innovations from a “hold” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, June 21st. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Health Insurance Innovations in a research note on Monday, June 26th. Finally, Craig Hallum initiated coverage on Health Insurance Innovations in a research note on Monday, June 12th. They set a “buy” rating and a $28.00 price target on the stock. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Health Insurance Innovations has an average rating of “Buy” and an average target price of $31.33.

Shares of Health Insurance Innovations (NASDAQ HIIQ) traded up 7.59% during mid-day trading on Wednesday, reaching $21.25. The company’s stock had a trading volume of 1,681,059 shares. The firm has a market cap of $264.97 million, a PE ratio of 17.19 and a beta of 0.65. Health Insurance Innovations has a 12 month low of $4.00 and a 12 month high of $37.38. The company has a 50-day moving average of $31.17 and a 200-day moving average of $22.76.

Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.13. Health Insurance Innovations had a return on equity of 22.89% and a net margin of 5.56%. The firm had revenue of $61.80 million for the quarter, compared to analyst estimates of $53.69 million. Health Insurance Innovations’s revenue was up 38.9% compared to the same quarter last year. On average, analysts predict that Health Insurance Innovations will post $1.53 earnings per share for the current year.

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In related news, insider Sheldon Wang sold 26,421 shares of Health Insurance Innovations stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $22.99, for a total value of $607,418.79. Following the transaction, the insider now directly owns 262,577 shares of the company’s stock, valued at $6,036,645.23. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael D. Hershberger sold 17,769 shares of Health Insurance Innovations stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $31.42, for a total value of $558,301.98. Following the completion of the transaction, the chief financial officer now directly owns 94,569 shares in the company, valued at $2,971,357.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 221,248 shares of company stock worth $6,203,127. 30.00% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its stake in shares of Health Insurance Innovations by 68.3% in the second quarter. Renaissance Technologies LLC now owns 1,010,400 shares of the financial services provider’s stock worth $23,744,000 after acquiring an additional 410,197 shares during the period. Lyon Street Capital LLC lifted its stake in shares of Health Insurance Innovations by 14.4% in the second quarter. Lyon Street Capital LLC now owns 627,079 shares of the financial services provider’s stock worth $14,736,000 after acquiring an additional 78,818 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Health Insurance Innovations in the second quarter worth approximately $14,467,000. Capital World Investors acquired a new position in shares of Health Insurance Innovations in the second quarter worth approximately $11,680,000. Finally, Dialectic Capital Management LP lifted its stake in shares of 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 acquiring an additional 141,083 shares during the period. 90.32% of the stock is currently 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.

Analyst Recommendations for Health Insurance Innovations (NASDAQ:HIIQ)

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