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.
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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