ValuEngine downgraded shares of Health Insurance Innovations (NASDAQ:HIIQ) from a buy rating to a hold rating in a research report sent to investors on Wednesday, January 3rd.
Several other brokerages have also recently issued reports on HIIQ. BidaskClub upgraded Health Insurance Innovations from a hold rating to a buy rating in a research note on Friday, December 15th. Canaccord Genuity restated a buy rating and set a $39.00 price objective on shares of Health Insurance Innovations in a research note on Friday, December 22nd. Cantor Fitzgerald restated an overweight rating and set a $38.00 price objective on shares of Health Insurance Innovations in a research note on Tuesday, September 12th. Zacks Investment Research upgraded Health Insurance Innovations from a hold rating to a strong-buy rating and set a $24.00 price objective on the stock in a research note on Tuesday, October 17th. Finally, Northland Securities restated a buy rating and set a $37.00 price objective on shares of Health Insurance Innovations in a research note on Tuesday, October 17th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Health Insurance Innovations currently has an average rating of Buy and an average target price of $32.67.
Health Insurance Innovations (NASDAQ:HIIQ) opened at $27.90 on Wednesday. Health Insurance Innovations has a one year low of $12.65 and a one year high of $37.38. The stock has a market capitalization of $484.10, a price-to-earnings ratio of 22.87 and a beta of 0.65.
Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.11. Health Insurance Innovations had a return on equity of 21.32% and a net margin of 5.98%. The firm had revenue of $63.34 million for the quarter, compared to analysts’ expectations of $59.30 million. During the same period last year, the business posted $0.33 earnings per share. The firm’s revenue for the quarter was up 37.4% on a year-over-year basis. sell-side analysts forecast that Health Insurance Innovations will post 1.39 EPS for the current fiscal year.
Health Insurance Innovations announced that its board has initiated a share repurchase plan on Monday, October 16th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
In other Health Insurance Innovations news, CTO Sheldon Wang sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the sale, the chief technology officer now directly owns 122,769 shares in the company, valued at $3,069,225. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 57,464 shares of company stock worth $1,463,600 over the last quarter. 30.00% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its holdings in shares of Health Insurance Innovations by 8.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 63,851 shares of the financial services provider’s stock valued at $1,594,000 after purchasing an additional 5,009 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Health Insurance Innovations during the third quarter valued at $368,000. Tenzing Global Management LLC acquired a new position in shares of Health Insurance Innovations during the third quarter valued at $1,015,000. Lyon Street Capital LLC increased its holdings 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 during the period. Finally, B. Riley Financial Inc. increased its holdings 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 during the period. 68.00% of the stock is currently owned by institutional investors.
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Health Insurance Innovations Company Profile
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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