Health Insurance Innovations (NASDAQ:HIIQ) had its target price reduced by Craig Hallum from $65.00 to $50.00 in a research note issued to investors on Tuesday morning, The Fly reports. They currently have a buy rating on the financial services provider’s stock.
Several other research firms have also weighed in on HIIQ. Lake Street Capital reduced their target price on Health Insurance Innovations from $80.00 to $50.00 and set a buy rating on the stock in a report on Tuesday, May 7th. ValuEngine lowered Health Insurance Innovations from a sell rating to a strong sell rating in a report on Tuesday, June 18th. Northland Securities restated a buy rating and issued a $60.00 price target on shares of Health Insurance Innovations in a report on Tuesday, May 7th. BidaskClub lowered Health Insurance Innovations from a hold rating to a sell rating in a report on Tuesday. Finally, Zacks Investment Research upgraded Health Insurance Innovations from a hold rating to a strong-buy rating and set a $33.00 price target on the stock in a report on Thursday, June 13th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $51.13.
HIIQ stock opened at $21.32 on Tuesday. The business’s 50-day simple moving average is $23.34. The company has a market capitalization of $306.55 million, a price-to-earnings ratio of 11.59 and a beta of 1.30. 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, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.46. The firm had revenue of $58.36 million for the quarter, compared to analyst estimates of $76.76 million. Health Insurance Innovations had a return on equity of 28.58% and a net margin of 3.44%. The company’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. As a group, equities analysts forecast that Health Insurance Innovations will post 3.52 earnings per share for the current year.
In related news, major shareholder Michael W. Kosloske sold 41,393 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $25.59, for a total transaction of $1,059,246.87. Following the sale, the insider now owns 320 shares in the company, valued at $8,188.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Michael W. Kosloske sold 48,409 shares of the company’s stock in a transaction dated 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 owns 320 shares in the company, valued at approximately $8,387.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 327,691 shares of company stock worth $8,504,415. Corporate insiders own 47.88% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in HIIQ. River Road Asset Management LLC acquired a new position in Health Insurance Innovations during the first quarter worth approximately $10,621,000. B. Riley Financial Inc. increased its position in Health Insurance Innovations by 97.1% during the first 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 last quarter. Wasatch Advisors Inc. increased its position in Health Insurance Innovations by 103.9% during the first quarter. Wasatch Advisors Inc. now owns 288,943 shares of the financial services provider’s stock worth $7,749,000 after buying an additional 147,245 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its position in Health Insurance Innovations by 46.1% during the second 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 last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in Health Insurance Innovations by 21.7% during the first 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 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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