Shares of Health Insurance Innovations Inc (NASDAQ:HIIQ) were down 7.9% on Tuesday . The company traded as low as $18.81 and last traded at $18.93, approximately 969,722 shares were traded during mid-day trading. An increase of 12% from the average daily volume of 864,563 shares. The stock had previously closed at $20.56.
A number of research analysts have weighed in on HIIQ shares. Zacks Investment Research raised Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Saturday. ValuEngine downgraded Health Insurance Innovations from a “sell” rating to a “strong sell” rating in a report on Tuesday. Northland Securities reissued a “buy” rating and issued a $60.00 target price on shares of Health Insurance Innovations in a report on Tuesday, May 7th. Lake Street Capital decreased their price objective on 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. Finally, Craig Hallum decreased their price objective on 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. Two investment 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 currently has an average rating of “Buy” and a consensus target price of $51.13.
The stock has a market cap of $286.40 million, a price-to-earnings ratio of 10.29 and a beta of 1.30. The business’s fifty day moving average is $22.90. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.45.
Health Insurance Innovations (NASDAQ:HIIQ) last released its quarterly 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 business had revenue of $58.36 million during the quarter, compared to analysts’ expectations of $76.76 million. Health Insurance Innovations had a return on equity of 29.83% and a net margin of 3.44%. The firm’s revenue for the quarter was down 18.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. On average, sell-side analysts anticipate that Health Insurance Innovations Inc will post 3.52 earnings per share for the current fiscal year.
In related news, major shareholder Michael W. Kosloske sold 52,526 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $25.29, for a total transaction of $1,328,382.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 value of $1,268,799.89. Following the sale, the insider now directly owns 320 shares of the company’s stock, valued at $8,387.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 327,691 shares of company stock valued at $8,504,415. Company insiders own 47.88% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. CenterStar Asset Management LLC bought a new stake in Health Insurance Innovations during the 2nd quarter valued at $27,000. Aperio Group LLC acquired a new position in shares of Health Insurance Innovations in the 2nd quarter valued at about $29,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Health Insurance Innovations by 8,309.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,691 shares of the financial services provider’s stock valued at $72,000 after buying an additional 2,659 shares during the period. Macquarie Group Ltd. raised its holdings in Health Insurance Innovations by 196.3% in the 4th quarter. Macquarie Group Ltd. now owns 3,556 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 2,356 shares during the period. Finally, OLD Second National Bank of Aurora raised its holdings in Health Insurance Innovations by 44.9% in the 2nd quarter. OLD Second National Bank of Aurora now owns 3,741 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 1,159 shares during the period.
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.
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