Health Insurance Innovations Inc (NASDAQ:HIIQ) – Equities researchers at B. Riley cut their FY2018 earnings estimates for shares of Health Insurance Innovations in a research note issued to investors on Monday, February 11th. B. Riley analyst R. Binner now anticipates that the financial services provider will post earnings per share of $1.81 for the year, down from their prior estimate of $1.83. B. Riley currently has a “Buy” rating and a $55.00 target price on the stock.
Several other research firms have also recently issued reports on HIIQ. TheStreet upgraded Health Insurance Innovations from a “c” rating to a “b-” rating in a research report on Wednesday, October 31st. Lake Street Capital increased their price objective on Health Insurance Innovations from $51.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, October 30th. Craig Hallum increased their price objective on Health Insurance Innovations from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, October 30th. ValuEngine cut Health Insurance Innovations from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 16th. Finally, First Analysis upgraded Health Insurance Innovations from an “outperform” rating to a “strong-buy” rating and set a $65.00 price objective for the company in a research report on Monday, October 29th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Health Insurance Innovations currently has an average rating of “Buy” and a consensus target price of $56.78.
Shares of NASDAQ HIIQ opened at $38.69 on Tuesday. Health Insurance Innovations has a 1-year low of $21.25 and a 1-year high of $63.13. The firm has a market cap of $659.78 million, a P/E ratio of 32.24 and a beta of 1.81.
Hedge funds have recently made changes to their positions in the company. Columbia Partners L.L.C. Investment Management purchased a new position in shares of Health Insurance Innovations in the third quarter valued at $1,598,000. Great Lakes Advisors LLC acquired a new stake in shares of Health Insurance Innovations during the third quarter valued at $5,692,000. Alpine Woods Capital Investors LLC boosted its stake in shares of Health Insurance Innovations by 25.9% during the third quarter. Alpine Woods Capital Investors LLC now owns 25,185 shares of the financial services provider’s stock valued at $1,553,000 after acquiring an additional 5,185 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Health Insurance Innovations by 6.9% during the third quarter. BlackRock Inc. now owns 839,358 shares of the financial services provider’s stock valued at $51,745,000 after acquiring an additional 54,419 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Health Insurance Innovations by 102.1% during the third quarter. Russell Investments Group Ltd. now owns 163,290 shares of the financial services provider’s stock valued at $10,059,000 after acquiring an additional 82,513 shares during the last quarter. Institutional investors and hedge funds own 86.04% of the company’s stock.
In other news, Director Robert S. Murley purchased 6,500 shares of the company’s stock in a transaction dated Monday, December 17th. The stock was acquired at an average price of $30.85 per share, for a total transaction of $200,525.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gavin Southwell sold 6,150 shares of the firm’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $40.02, for a total value of $246,123.00. Following the completion of the transaction, the chief executive officer now owns 609,723 shares of the company’s stock, valued at approximately $24,401,114.46. The disclosure for this sale can be found here. Insiders sold 116,288 shares of company stock valued at $4,684,669 in the last quarter. 55.94% of the stock is currently owned by company insiders.
Health Insurance Innovations Company Profile
Health Insurance Innovations, Inc operates as a cloud-based technology platform and distributor of individual and family health insurance plans, and supplemental products in the United States. It offers short-term medical plans that provide three months of health insurance coverage with various deductible and copay levels; health benefit insurance plans, which offer daily cash benefit for hospital treatment and doctor office visits, as well as accidental injury and death or dismemberment benefits; and supplemental insurance products, including pharmacy benefit cards, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and life insurance policies.
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