Jane Street Group LLC trimmed its position in Health Insurance Innovations (NASDAQ:HIIQ) by 80.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,991 shares of the financial services provider’s stock after selling 35,857 shares during the quarter. Jane Street Group LLC owned 0.05% of Health Insurance Innovations worth $224,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Health Insurance Innovations in the fourth quarter valued at $238,000. American Century Companies Inc. acquired a new position in shares of Health Insurance Innovations in the fourth quarter valued at $276,000. Alliancebernstein L.P. acquired a new position in shares of Health Insurance Innovations in the fourth quarter valued at $372,000. Wells Fargo & Company MN raised its stake in shares of Health Insurance Innovations by 26.3% in the third quarter. Wells Fargo & Company MN now owns 17,591 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 3,665 shares in the last quarter. Finally, Stifel Financial Corp acquired a new position in shares of Health Insurance Innovations in the third quarter valued at $282,000. Institutional investors and hedge funds own 79.22% of the company’s stock.
In other Health Insurance Innovations news, insider Sheldon Wang sold 30,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $30.49, for a total value of $914,700.00. Following the sale, the insider now directly owns 94,001 shares in the company, valued at $2,866,090.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 40,000 shares of company stock worth $1,215,200 over the last quarter. Company insiders own 30.00% of the company’s stock.
A number of research analysts recently commented on the company. Zacks Investment Research upgraded Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Wednesday, February 14th. BidaskClub upgraded Health Insurance Innovations from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Raymond James upgraded Health Insurance Innovations from a “market perform” rating to an “outperform” rating and set a $34.60 target price for the company in a research note on Thursday, March 1st. Canaccord Genuity restated a “buy” rating and issued a $55.00 target price (up from $39.00) on shares of Health Insurance Innovations in a research note on Friday, March 2nd. Finally, B. Riley assumed coverage on Health Insurance Innovations in a research note on Tuesday, February 13th. They issued a “buy” rating and a $38.00 target price for the company. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $42.62.
Shares of NASDAQ:HIIQ opened at $28.60 on Friday. Health Insurance Innovations has a fifty-two week low of $12.65 and a fifty-two week high of $37.38. The firm has a market capitalization of $472.30, a price-to-earnings ratio of 23.83 and a beta of 0.41.
Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. Health Insurance Innovations had a return on equity of 21.27% and a net margin of 7.14%. The firm had revenue of $69.50 million for the quarter, compared to analysts’ expectations of $59.93 million. Health Insurance Innovations’s revenue for the quarter was up 35.2% compared to the same quarter last year. equities research analysts anticipate that Health Insurance Innovations will post 1.95 EPS 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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