Health Insurance Innovations (NASDAQ:HIIQ) had its price target reduced by Lake Street Capital from $50.00 to $40.00 in a research note released on Tuesday, August 6th, The Fly reports. They currently have a buy rating on the financial services provider’s stock.
Several other research analysts also recently weighed in on the stock. TheStreet downgraded shares of Health Insurance Innovations from a b- rating to a c rating in a report on Tuesday, May 7th. Northland Securities restated a buy rating and set a $60.00 price objective on shares of Health Insurance Innovations in a report on Tuesday, May 7th. BidaskClub lowered shares of Health Insurance Innovations from a hold rating to a sell rating in a research note on Tuesday, August 6th. Zacks Investment Research upgraded shares of Health Insurance Innovations from a hold rating to a strong-buy rating and set a $33.00 price target for the company in a research report on Thursday, June 13th. Finally, Craig Hallum reduced their price target on shares of Health Insurance Innovations from $65.00 to $50.00 and set a buy rating for the company in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $51.13.
Shares of Health Insurance Innovations stock opened at $18.93 on Tuesday. Health Insurance Innovations has a 1 year low of $18.27 and a 1 year high of $63.13. 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 company has a market cap of $286.40 million, a price-to-earnings ratio of 10.29 and a beta of 1.30. The firm’s 50 day moving average is $22.90.
Health Insurance Innovations (NASDAQ:HIIQ) last issued its quarterly earnings results on Monday, August 5th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.46. Health Insurance Innovations had a net margin of 3.44% and a return on equity of 29.83%. The firm had revenue of $58.36 million for the quarter, compared to the consensus estimate of $76.76 million. During the same quarter in the previous year, the company earned $0.53 EPS. The company’s revenue for the quarter was down 18.7% on a year-over-year basis. As a group, equities research analysts predict that Health Insurance Innovations will post 3.52 EPS for the current year.
In other 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 value of $2,748,858.08. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Michael W. Kosloske sold 51,160 shares of Health Insurance Innovations stock in a transaction on Monday, July 1st. The shares were sold at an average price of $26.32, for a total transaction of $1,346,531.20. Following the completion of the sale, the insider now owns 320 shares in the company, valued at approximately $8,422.40. The disclosure for this sale can be found here. Insiders sold 327,691 shares of company stock worth $8,504,415 over the last ninety days. 47.88% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of HIIQ. River Road Asset Management LLC purchased a new stake in shares of Health Insurance Innovations during the 1st quarter worth approximately $10,621,000. B. Riley Financial Inc. grew its position in Health Insurance Innovations by 97.1% in the 1st quarter. B. Riley Financial Inc. now owns 377,608 shares of the financial services provider’s stock valued at $10,127,000 after acquiring an additional 185,988 shares during the last quarter. Wasatch Advisors Inc. grew its position in Health Insurance Innovations by 103.9% in the 1st quarter. Wasatch Advisors Inc. now owns 288,943 shares of the financial services provider’s stock valued at $7,749,000 after acquiring an additional 147,245 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its position in shares of 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 in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in shares of 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 in the last quarter.
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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