BidaskClub downgraded shares of Health Insurance Innovations (NASDAQ:HIIQ) from a buy rating to a hold rating in a report published on Saturday.
A number of other brokerages have also recently commented on HIIQ. Zacks Investment Research upgraded Health Insurance Innovations from a hold rating to a buy rating and set a $31.00 price target for the company in a research note on Thursday, January 25th. ValuEngine upgraded Health Insurance Innovations from a hold rating to a buy rating in a research note on Friday, February 2nd. Canaccord Genuity reiterated a buy rating and issued a $39.00 price target on shares of Health Insurance Innovations in a research note on Friday, December 22nd. Cantor Fitzgerald reiterated a buy rating and issued a $38.00 price target on shares of Health Insurance Innovations in a research note on Tuesday, December 12th. Finally, Northland Securities reiterated a buy rating and issued a $37.00 price target on shares of Health Insurance Innovations in a research note on Tuesday, October 17th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $33.71.
Health Insurance Innovations (NASDAQ HIIQ) opened at $24.65 on Friday. Health Insurance Innovations has a 12 month low of $12.65 and a 12 month high of $37.38. The company has a market capitalization of $407.78, a price-to-earnings ratio of 20.20 and a beta of 0.62.
In related news, insider Sheldon Wang sold 11,232 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $25.00, for a total value of $280,800.00. Following the completion of the sale, the insider now directly owns 137,769 shares in the company, valued at $3,444,225. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert S. Murley acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was bought at an average price of $22.50 per share, with a total value of $112,500.00. Following the completion of the acquisition, the director now directly owns 39,734 shares of the company’s stock, valued at $894,015. The disclosure for this purchase can be found here. Insiders sold 62,464 shares of company stock valued at $1,605,100 over the last 90 days. 30.00% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of HIIQ. Schwab Charles Investment Management Inc. acquired a new stake in Health Insurance Innovations in the second quarter valued at $440,000. Bank of New York Mellon Corp increased its holdings in Health Insurance Innovations by 179.0% in the second quarter. Bank of New York Mellon Corp now owns 34,233 shares of the financial services provider’s stock valued at $805,000 after purchasing an additional 21,963 shares during the period. Wells Fargo & Company MN increased its holdings in Health Insurance Innovations by 1,292.6% in the second quarter. Wells Fargo & Company MN now owns 13,926 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 12,926 shares during the period. Alliancebernstein L.P. acquired a new stake in Health Insurance Innovations in the second quarter valued at $240,000. Finally, Teachers Advisors LLC acquired a new stake in Health Insurance Innovations during the 2nd quarter worth about $475,000. Institutional investors and hedge funds own 64.05% of the company’s stock.
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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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