Health Insurance Innovations (HIIQ) Downgraded by ValuEngine to Hold

ValuEngine cut shares of Health Insurance Innovations (NASDAQ:HIIQ) from a buy rating to a hold rating in a research report report published on Thursday.

Several other analysts have also recently weighed in on the company. BidaskClub raised Health Insurance Innovations from a buy rating to a strong-buy rating in a research report on Friday, February 22nd. B. Riley cut Health Insurance Innovations from a buy rating to a neutral rating and cut their price objective for the company from $50.00 to $45.00 in a research report on Wednesday, February 27th. Zacks Investment Research cut Health Insurance Innovations from a buy rating to a hold rating in a research report on Friday, March 8th. Cantor Fitzgerald reaffirmed a buy rating and set a $65.00 price objective on shares of Health Insurance Innovations in a research report on Friday, November 16th. Finally, Lake Street Capital lifted their price objective on Health Insurance Innovations to $80.00 and gave the company a buy rating in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Health Insurance Innovations presently has a consensus rating of Buy and an average target price of $58.88.

NASDAQ HIIQ opened at $33.53 on Thursday. The stock has a market capitalization of $568.20 million, a P/E ratio of 18.22 and a beta of 1.79. Health Insurance Innovations has a 1 year low of $21.65 and a 1 year high of $63.13.

Health Insurance Innovations (NASDAQ:HIIQ) last posted its earnings results on Wednesday, March 6th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.21. The company had revenue of $131.90 million for the quarter, compared to analysts’ expectations of $83.12 million. Health Insurance Innovations had a return on equity of 30.19% and a net margin of 4.49%. Health Insurance Innovations’s quarterly revenue was up 89.8% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. On average, analysts predict that Health Insurance Innovations will post 2.43 EPS for the current fiscal year.

In other news, CFO Michael D. Hershberger sold 3,850 shares of Health Insurance Innovations stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $40.02, for a total transaction of $154,077.00. Following the completion of the transaction, the chief financial officer now directly owns 85,329 shares in the company, valued at $3,414,866.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gavin Southwell sold 65,899 shares of Health Insurance Innovations stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $40.31, for a total transaction of $2,656,388.69. Following the transaction, the chief executive officer now owns 609,723 shares of the company’s stock, valued at $24,577,934.13. The disclosure for this sale can be found here. Insiders have sold 117,666 shares of company stock valued at $4,739,789 over the last quarter. Company insiders own 55.94% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in HIIQ. State of New Jersey Common Pension Fund D purchased a new position in Health Insurance Innovations in the 4th quarter worth approximately $12,296,000. Millennium Management LLC purchased a new position in Health Insurance Innovations in the 4th quarter worth approximately $11,197,000. Cannell Capital LLC raised its holdings in Health Insurance Innovations by 66.9% in the 4th quarter. Cannell Capital LLC now owns 777,836 shares of the financial services provider’s stock worth $20,792,000 after acquiring an additional 311,829 shares during the last quarter. Marshall Wace LLP purchased a new position in Health Insurance Innovations in the 3rd quarter worth approximately $18,713,000. Finally, Kornitzer Capital Management Inc. KS raised its holdings in Health Insurance Innovations by 690.7% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 240,740 shares of the financial services provider’s stock worth $6,435,000 after acquiring an additional 210,295 shares during the last quarter.

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 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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Analyst Recommendations for Health Insurance Innovations (NASDAQ:HIIQ)

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