Health Insurance Innovations Sees Unusually High Options Volume (HIIQ)
Health Insurance Innovations Inc (NASDAQ:HIIQ) was the target of some unusual options trading on Thursday. Traders bought 4,332 call options on the company. This is an increase of 959% compared to the average volume of 409 call options.
In other Health Insurance Innovations news, CTO Sheldon Wang sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the sale, the chief technology officer now directly owns 194,001 shares of the company’s stock, valued at $4,850,025. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 30.00% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new position in shares of Health Insurance Innovations during the third quarter valued at about $368,000. Tenzing Global Management LLC purchased a new position in shares of Health Insurance Innovations during the third quarter valued at about $1,015,000. Lyon Street Capital LLC grew its position in shares of Health Insurance Innovations by 49.4% during the third quarter. Lyon Street Capital LLC now owns 936,747 shares of the financial services provider’s stock valued at $13,583,000 after purchasing an additional 309,668 shares in the last quarter. B. Riley Financial Inc. grew its position in shares of Health Insurance Innovations by 62.0% during the third quarter. B. Riley Financial Inc. now owns 405,000 shares of the financial services provider’s stock valued at $5,873,000 after purchasing an additional 155,000 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new position in shares of Health Insurance Innovations during the third quarter valued at about $1,879,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.
Health Insurance Innovations (NASDAQ:HIIQ) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.11. The firm had revenue of $63.34 million during the quarter, compared to analyst estimates of $59.30 million. Health Insurance Innovations had a return on equity of 21.32% and a net margin of 5.98%. The business’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 earnings per share. analysts forecast that Health Insurance Innovations will post 1.39 earnings per share for the current fiscal year.
Health Insurance Innovations declared that its Board of Directors has authorized a share buyback plan on Monday, October 16th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
HIIQ has been the topic of a number of recent analyst reports. Canaccord Genuity reissued a “buy” rating and set a $39.00 price target on shares of Health Insurance Innovations in a report on Friday, September 1st. ValuEngine raised Health Insurance Innovations from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research cut Health Insurance Innovations from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $38.00 price target on shares of Health Insurance Innovations in a report on Friday, September 1st. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $30.86.
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.
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