Health Insurance Innovations Inc (HIIQ) Expected to Post Earnings of $0.34 Per Share
Equities analysts forecast that Health Insurance Innovations Inc (NASDAQ:HIIQ) will report earnings of $0.34 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Health Insurance Innovations’ earnings, with the lowest EPS estimate coming in at $0.30 and the highest estimate coming in at $0.38. Health Insurance Innovations posted earnings per share of $0.35 during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.9%. The company is expected to issue its next earnings results on Wednesday, March 7th.
On average, analysts expect that Health Insurance Innovations will report full year earnings of $1.63 per share for the current fiscal year, with EPS estimates ranging from $1.58 to $1.66. For the next year, analysts anticipate that the business will report earnings of $1.91 per share, with EPS estimates ranging from $1.75 to $2.10. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Health Insurance Innovations.
Health Insurance Innovations (NASDAQ:HIIQ) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.11. Health Insurance Innovations had a return on equity of 19.57% and a net margin of 9.48%. The firm had revenue of $63.34 million during the quarter, compared to the consensus estimate of $59.30 million. During the same period last year, the business posted $0.33 EPS. Health Insurance Innovations’s quarterly revenue was up 37.4% on a year-over-year basis.
In other news, CTO Sheldon Wang sold 1,232 shares of Health Insurance Innovations stock in a transaction on Friday, December 28th. The stock was sold at an average price of $25.00, for a total value of $30,800.00. Following the completion of the sale, the chief technology officer now owns 137,769 shares of the company’s stock, valued at $3,444,225. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert S. Murley acquired 5,000 shares of the stock in a transaction dated Friday, December 8th. The stock was acquired at an average cost of $22.50 per share, with a total value of $112,500.00. Following the transaction, the director now owns 39,734 shares of the company’s stock, valued at $894,015. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 57,464 shares of company stock valued at $1,463,600. Company insiders own 30.00% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its holdings in 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 valued at $23,744,000 after acquiring an additional 410,197 shares during the last quarter. Lyon Street Capital LLC boosted its holdings in Health Insurance Innovations by 49.4% in 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 acquiring an additional 309,668 shares during the last quarter. Capital World Investors acquired a new position in Health Insurance Innovations in the second quarter valued at $11,680,000. Emerald Mutual Fund Advisers Trust boosted its holdings in Health Insurance Innovations by 3.1% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 462,963 shares of the financial services provider’s stock valued at $6,713,000 after acquiring an additional 14,008 shares during the last quarter. Finally, B. Riley Financial Inc. boosted its holdings in Health Insurance Innovations by 62.0% in 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 acquiring an additional 155,000 shares during the last quarter. 68.00% of the stock is owned by institutional investors and hedge funds.
Health Insurance Innovations (NASDAQ:HIIQ) traded down $0.10 during midday trading on Monday, reaching $25.40. The company had a trading volume of 211,178 shares, compared to its average volume of 380,067. Health Insurance Innovations has a 12-month low of $12.65 and a 12-month high of $37.38. The stock has a market cap of $420.18, a P/E ratio of 20.82 and a beta of 0.65.
Health Insurance Innovations announced that its Board of Directors has approved a share buyback plan on Monday, October 16th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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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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