Shares of Health Insurance Innovations Inc (NASDAQ:HIIQ) shot up 5.3% on Tuesday . The stock traded as high as $26.50 and last traded at $26.11. 832,557 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 973,623 shares. The stock had previously closed at $24.80.
Several research firms recently weighed in on HIIQ. BidaskClub downgraded shares of Health Insurance Innovations from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Lake Street Capital dropped their target price on shares of Health Insurance Innovations from $80.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Zacks Investment Research downgraded shares of Health Insurance Innovations from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine downgraded shares of Health Insurance Innovations from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 13th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $75.00 price target on shares of Health Insurance Innovations in a research note on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Health Insurance Innovations presently has an average rating of “Buy” and an average target price of $56.78.
The company has a market capitalization of $345.41 million, a P/E ratio of 14.19 and a beta of 1.61.
Health Insurance Innovations (NASDAQ:HIIQ) last posted its quarterly earnings results on Monday, May 6th. The financial services provider reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.08). The business had revenue of $87.33 million during the quarter, compared to analyst estimates of $83.58 million. Health Insurance Innovations had a return on equity of 28.56% and a net margin of 3.48%. The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 EPS. Analysts anticipate that Health Insurance Innovations Inc will post 2.81 earnings per share for the current year.
In other Health Insurance Innovations news, Director John Fichthorn purchased 93,742 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was acquired at an average price of $29.28 per share, for a total transaction of $2,744,765.76. Following the completion of the purchase, the director now directly owns 72,869 shares in the company, valued at approximately $2,133,604.32. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 47.88% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in HIIQ. Bank of New York Mellon Corp lifted its position in shares of Health Insurance Innovations by 90.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 84,214 shares of the financial services provider’s stock worth $5,192,000 after purchasing an additional 39,967 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Health Insurance Innovations by 60.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 83,470 shares of the financial services provider’s stock worth $5,145,000 after purchasing an additional 31,321 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Health Insurance Innovations by 9.3% during the 3rd quarter. Vanguard Group Inc. now owns 545,693 shares of the financial services provider’s stock worth $33,642,000 after purchasing an additional 46,286 shares during the last quarter. Vanguard Group Inc lifted its position in shares of Health Insurance Innovations by 9.3% during the 3rd quarter. Vanguard Group Inc now owns 545,693 shares of the financial services provider’s stock worth $33,642,000 after purchasing an additional 46,286 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in shares of Health Insurance Innovations by 220.3% during the 4th quarter. Meeder Asset Management Inc. now owns 2,841 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 1,954 shares during the last quarter. 99.90% of the stock is owned by institutional investors and hedge funds.
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Health Insurance Innovations Company Profile (NASDAQ:HIIQ)
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 3 months to 12 months of health insurance coverage with various deductible and copay levels; health benefit insurance plans, which offer fixed cash benefits and additional benefits for procedures and services; and supplemental insurance products, including life insurance policies, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and pharmacy benefit cards.
Further Reading: Support Level
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