Tenzing Global Management LLC increased its position in shares of Health Insurance Innovations (NASDAQ:HIIQ) by 346.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 312,500 shares of the financial services provider’s stock after purchasing an additional 242,500 shares during the period. Health Insurance Innovations makes up about 5.3% of Tenzing Global Management LLC’s portfolio, making the stock its 8th biggest holding. Tenzing Global Management LLC owned approximately 1.89% of Health Insurance Innovations worth $7,797,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its holdings in Health Insurance Innovations by 1,292.6% in the 2nd quarter. Wells Fargo & Company MN now owns 13,926 shares of the financial services provider’s stock valued at $327,000 after acquiring an additional 12,926 shares in the last quarter. Nationwide Fund Advisors acquired a new position in Health Insurance Innovations in the 2nd quarter valued at $149,000. New York State Common Retirement Fund acquired a new position in Health Insurance Innovations in the 2nd quarter valued at $280,000. Northern Trust Corp raised its holdings in Health Insurance Innovations by 542.8% in the 2nd quarter. Northern Trust Corp now owns 121,537 shares of the financial services provider’s stock valued at $2,856,000 after acquiring an additional 102,629 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in Health Insurance Innovations in the 2nd quarter valued at $1,112,000. 79.22% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on HIIQ shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Health Insurance Innovations in a report on Friday, December 22nd. BidaskClub raised Health Insurance Innovations from a “hold” rating to a “buy” rating in a report on Friday, December 15th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Health Insurance Innovations in a report on Tuesday, December 12th. ValuEngine raised Health Insurance Innovations from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research upgraded Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $42.62.
In related news, CEO Bruce Telkamp sold 9,970 shares of the business’s stock in a transaction on Saturday, September 1st. The stock was sold at an average price of $36.19, for a total transaction of $360,814.30. Following the sale, the chief executive officer now owns 19,500 shares in the company, valued at approximately $705,705. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Sheldon Wang sold 5,000 shares of Health Insurance Innovations stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $28.30, for a total value of $141,500.00. Following the transaction, the chief technology officer now directly owns 109,001 shares in the company, valued at $3,084,728.30. The disclosure for this sale can be found here. Insiders have sold a total of 49,970 shares of company stock worth $1,576,014 in the last 90 days. 30.00% of the stock is currently owned by corporate insiders.
Shares of HIIQ traded down $0.45 during midday trading on Friday, hitting $28.95. The company’s stock had a trading volume of 175,989 shares, compared to its average volume of 338,275. Health Insurance Innovations has a one year low of $12.65 and a one year high of $37.38. The firm has a market cap of $487.22, a price-to-earnings ratio of 24.13 and a beta of 0.41.
Health Insurance Innovations (NASDAQ:HIIQ) last issued its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.03. The company had revenue of $69.50 million for the quarter, compared to analyst estimates of $59.93 million. Health Insurance Innovations had a return on equity of 21.27% and a net margin of 7.14%. The company’s revenue was up 35.2% on a year-over-year basis. equities analysts expect that Health Insurance Innovations will post 1.95 earnings per share for the current fiscal year.
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About Health Insurance Innovations
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 provides 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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