Health Insurance Innovations (NASDAQ:HIIQ) Rating Increased to Sell at BidaskClub

BidaskClub upgraded shares of Health Insurance Innovations (NASDAQ:HIIQ) from a strong sell rating to a sell rating in a research note released on Friday morning, BidAskClub reports.

Several other research firms have also commented on HIIQ. Lake Street Capital lowered their price target on shares of Health Insurance Innovations from $50.00 to $40.00 and set a buy rating on the stock in a research report on Tuesday, August 6th. ValuEngine lowered shares of Health Insurance Innovations from a sell rating to a strong sell rating in a research report on Tuesday, August 13th. Zacks Investment Research upgraded shares of Health Insurance Innovations from a hold rating to a buy rating and set a $24.00 price target on the stock in a research report on Saturday, August 10th. Finally, Craig Hallum decreased their target price on shares of Health Insurance Innovations from $65.00 to $50.00 and set a buy rating on the stock in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $51.13.

HIIQ stock opened at $19.77 on Friday. The company’s 50 day simple moving average is $19.26 and its 200-day simple moving average is $24.81. The firm has a market capitalization of $279.35 million, a PE ratio of 10.74 and a beta of 1.42. Health Insurance Innovations has a 12 month low of $16.25 and a 12 month high of $63.13. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.99 and a quick ratio of 0.99.

Health Insurance Innovations (NASDAQ:HIIQ) last released its quarterly earnings results on Monday, August 5th. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.25 by $0.46. The business had revenue of $58.36 million for the quarter, compared to analyst estimates of $76.76 million. Health Insurance Innovations had a net margin of 3.44% and a return on equity of 29.83%. The company’s quarterly revenue was down 18.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 earnings per share. As a group, sell-side analysts anticipate that Health Insurance Innovations will post 3.54 earnings per share for the current year.

In related news, major shareholder Michael W. Kosloske sold 105,401 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $26.08, for a total transaction of $2,748,858.08. Following the sale, the insider now owns 69,720 shares in the company, valued at $1,818,297.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Michael W. Kosloske sold 48,409 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $26.21, for a total transaction of $1,268,799.89. Following the sale, the insider now owns 320 shares in the company, valued at approximately $8,387.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 327,691 shares of company stock worth $8,504,415. 47.88% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in HIIQ. White Pine Capital LLC boosted its holdings in shares of Health Insurance Innovations by 12.9% in the 2nd quarter. White Pine Capital LLC now owns 44,120 shares of the financial services provider’s stock valued at $1,144,000 after purchasing an additional 5,055 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Health Insurance Innovations in the 2nd quarter valued at $413,000. Nuveen Asset Management LLC acquired a new position in shares of Health Insurance Innovations in the 2nd quarter valued at $12,981,000. Connors Investor Services Inc. boosted its holdings in shares of Health Insurance Innovations by 60.9% in the 2nd quarter. Connors Investor Services Inc. now owns 105,055 shares of the financial services provider’s stock valued at $2,723,000 after purchasing an additional 39,777 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Health Insurance Innovations by 573.1% in the 2nd quarter. AQR Capital Management LLC now owns 98,978 shares of the financial services provider’s stock valued at $2,566,000 after purchasing an additional 84,273 shares during the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

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 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.

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Analyst Recommendations for Health Insurance Innovations (NASDAQ:HIIQ)

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