Stock Traders Purchase Large Volume of Put Options on Health Insurance Innovations (HIIQ)

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Health Insurance Innovations Inc (NASDAQ:HIIQ) saw some unusual options trading activity on Wednesday. Investors acquired 2,438 put options on the company. This represents an increase of approximately 1,654% compared to the typical volume of 139 put options.

NASDAQ HIIQ opened at $52.05 on Friday. The stock has a market cap of $859.29 million, a price-to-earnings ratio of 42.88 and a beta of 0.47. Health Insurance Innovations has a one year low of $12.65 and a one year high of $57.03.

Health Insurance Innovations (NASDAQ:HIIQ) last posted its earnings results on Wednesday, August 1st. The financial services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The business had revenue of $71.70 million for the quarter, compared to the consensus estimate of $70.51 million. Health Insurance Innovations had a net margin of 5.39% and a return on equity of 19.43%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS. equities research analysts expect that Health Insurance Innovations will post 2.06 earnings per share for the current fiscal year.

HIIQ has been the subject of a number of research analyst reports. ValuEngine upgraded shares of Health Insurance Innovations from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th. Zacks Investment Research downgraded shares of Health Insurance Innovations from a “hold” rating to a “sell” rating in a research report on Wednesday, May 23rd. BidaskClub raised shares of Health Insurance Innovations from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 5th. Cantor Fitzgerald reissued a “buy” rating on shares of Health Insurance Innovations in a research report on Friday, June 8th. Finally, Canaccord Genuity reissued a “buy” rating and set a $62.00 target price (up previously from $55.00) on shares of Health Insurance Innovations in a research report on Thursday, August 2nd. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $47.07.

In related news, insider Sheldon Wang sold 6,593 shares of Health Insurance Innovations stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $43.33, for a total transaction of $285,674.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael W. Kosloske sold 1,300,000 shares of Health Insurance Innovations stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $31.00, for a total transaction of $40,300,000.00. Following the sale, the insider now owns 100 shares of the company’s stock, valued at approximately $3,100. The disclosure for this sale can be found here. Insiders have sold a total of 1,342,524 shares of company stock valued at $41,925,031 in the last quarter. 55.94% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new position in shares of Health Insurance Innovations in the 1st quarter worth approximately $139,000. Ladenburg Thalmann Financial Services Inc. purchased a new position in shares of Health Insurance Innovations in the 1st quarter worth approximately $143,000. MetLife Investment Advisors LLC purchased a new position in shares of Health Insurance Innovations in the 4th quarter worth approximately $144,000. Gamco Investors INC. ET AL purchased a new position in shares of Health Insurance Innovations in the 1st quarter worth approximately $217,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Health Insurance Innovations in the 1st quarter worth approximately $217,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Health Insurance Innovations Company Profile

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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