Zacks Investment Research upgraded shares of Health Insurance Innovations (NASDAQ:HIIQ) from a hold rating to a buy rating in a research report report published on Saturday, Zacks.com reports. They currently have $24.00 price target on the financial services provider’s stock.
According to Zacks, “Health Insurance Innovations, Inc. operates as a developer and administrator of web-based individual health insurance plans and ancillary products. Its product portfolio consists of short-term medical plans, accident, sickness & hospital medical plans, ancillary insurance, life insurance, lifestyle and discount services. Health Insurance Innovations, Inc. is based in Tampa, Florida. “
Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Health Insurance Innovations from a hold rating to a sell rating in a research note on Tuesday, August 6th. ValuEngine raised shares of Health Insurance Innovations from a strong sell rating to a sell rating in a research note on Tuesday, August 6th. Craig Hallum reduced their price target on shares of Health Insurance Innovations from $65.00 to $50.00 and set a buy rating on the stock in a research note on Tuesday, August 6th. Northland Securities reissued a buy rating and issued a $60.00 price target on shares of Health Insurance Innovations in a research note on Tuesday, May 7th. Finally, Lake Street Capital reduced 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 note on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Health Insurance Innovations currently has an average rating of Buy and a consensus target price of $51.13.
NASDAQ:HIIQ opened at $18.93 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.45. The firm has a market cap of $286.40 million, a price-to-earnings ratio of 10.29 and a beta of 1.30. The company has a 50-day moving average price of $22.90. Health Insurance Innovations has a 1-year low of $18.27 and a 1-year high of $63.13.
Health Insurance Innovations (NASDAQ:HIIQ) last posted its earnings results on Monday, August 5th. The financial services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.46. The company 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%. Health Insurance Innovations’s revenue was down 18.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS. Sell-side analysts anticipate that Health Insurance Innovations will post 3.52 EPS for the current year.
In other news, major shareholder Michael W. Kosloske sold 52,526 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $25.29, for a total value of $1,328,382.54. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Michael W. Kosloske sold 41,393 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $25.59, for a total transaction of $1,059,246.87. Following the completion of the sale, the insider now directly owns 320 shares in the company, valued at $8,188.80. The disclosure for this sale can be found here. Insiders sold a total of 327,691 shares of company stock worth $8,504,415 over the last three months. Insiders own 47.88% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in HIIQ. BlackRock Inc. increased its stake in Health Insurance Innovations by 1.8% during the 4th quarter. BlackRock Inc. now owns 854,321 shares of the financial services provider’s stock worth $22,835,000 after buying an additional 14,963 shares during the period. State of New Jersey Common Pension Fund D increased its stake in Health Insurance Innovations by 21.7% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 560,000 shares of the financial services provider’s stock worth $15,019,000 after buying an additional 100,000 shares during the period. River Road Asset Management LLC purchased a new stake in Health Insurance Innovations during the 1st quarter worth approximately $10,621,000. B. Riley Financial Inc. increased its stake in Health Insurance Innovations by 97.1% during the 1st quarter. B. Riley Financial Inc. now owns 377,608 shares of the financial services provider’s stock worth $10,127,000 after buying an additional 185,988 shares during the period. Finally, Kornitzer Capital Management Inc. KS increased its stake in Health Insurance Innovations by 46.1% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 317,295 shares of the financial services provider’s stock worth $8,224,000 after buying an additional 100,170 shares during the period.
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 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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