Health Insurance Innovations (NASDAQ:HIIQ) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.
Several other equities research analysts also recently weighed in on HIIQ. Zacks Investment Research downgraded Health Insurance Innovations from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Canaccord Genuity reissued a “buy” rating and set a $39.00 price objective on shares of Health Insurance Innovations in a report on Monday, October 16th. Northland Securities reissued a “buy” rating and set a $37.00 price objective on shares of Health Insurance Innovations in a report on Tuesday, October 17th. Cantor Fitzgerald reissued a “buy” rating and set a $38.00 price objective on shares of Health Insurance Innovations in a report on Wednesday, November 1st. Finally, BidaskClub downgraded Health Insurance Innovations from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $33.83.
Health Insurance Innovations (NASDAQ HIIQ) traded down $1.55 during midday trading on Thursday, hitting $22.10. The company had a trading volume of 292,294 shares, compared to its average volume of 333,111. Health Insurance Innovations has a 12 month low of $12.65 and a 12 month high of $37.38. The firm has a market cap of $401.95, a P/E ratio of 18.57 and a beta of 0.62.
In related news, Director Robert S. Murley bought 5,000 shares of the stock in a transaction that occurred on 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 directly owns 39,734 shares in the company, valued at $894,015. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sheldon Wang sold 10,000 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $26.30, for a total value of $263,000.00. Following the transaction, the insider now directly owns 169,001 shares of the company’s stock, valued at $4,444,726.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,464 shares of company stock valued at $1,605,100. 30.00% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Lyon Street Capital LLC raised its position in Health Insurance Innovations by 49.4% during the 3rd quarter. Lyon Street Capital LLC now owns 936,747 shares of the financial services provider’s stock worth $13,583,000 after purchasing an additional 309,668 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of Health Insurance Innovations by 3.1% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 462,963 shares of the financial services provider’s stock worth $6,713,000 after acquiring an additional 14,008 shares in the last quarter. B. Riley Financial Inc. raised its position in shares of Health Insurance Innovations by 62.0% in the 3rd quarter. B. Riley Financial Inc. now owns 405,000 shares of the financial services provider’s stock worth $5,873,000 after acquiring an additional 155,000 shares in the last quarter. OxFORD Asset Management LLP bought a new position in shares of Health Insurance Innovations in the 3rd quarter worth about $3,553,000. Finally, State Street Corp bought a new position in shares of Health Insurance Innovations in the 2nd quarter worth about $3,430,000. 68.42% of the stock is owned by institutional investors and hedge funds.
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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