Health Insurance Innovations (NASDAQ:HIIQ) Downgraded by ValuEngine

Health Insurance Innovations (NASDAQ:HIIQ) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday, April 13th, ValuEngine reports.

Other research analysts also recently issued research reports about the stock. Lake Street Capital increased their price objective on shares of Health Insurance Innovations to $80.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. BidaskClub upgraded shares of Health Insurance Innovations from a “sell” rating to a “hold” rating in a research report on Thursday, January 10th. Zacks Investment Research downgraded shares of Health Insurance Innovations from a “hold” rating to a “strong sell” rating in a research report on Saturday, December 29th. B. Riley downgraded shares of Health Insurance Innovations from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $50.00 to $45.00 in a research report on Wednesday, February 27th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $75.00 price objective on shares of Health Insurance Innovations in a research report on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $60.13.

HIIQ traded up $2.20 during midday trading on Friday, reaching $23.76. The company’s stock had a trading volume of 1,096,001 shares, compared to its average volume of 837,840. The stock has a market cap of $409.05 million, a PE ratio of 12.91 and a beta of 1.61. Health Insurance Innovations has a 1 year low of $21.19 and a 1 year high of $63.13.

Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings data on Wednesday, March 6th. The financial services provider reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.21. Health Insurance Innovations had a net margin of 4.49% and a return on equity of 28.34%. The business had revenue of $131.90 million for the quarter, compared to analysts’ expectations of $83.12 million. During the same quarter in the prior year, the company earned $0.37 earnings per share. The business’s revenue was up 89.8% compared to the same quarter last year. On average, sell-side analysts forecast that Health Insurance Innovations will post 2.67 EPS for the current fiscal year.

In other news, CEO Gavin Southwell sold 65,899 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 609,723 shares in the company, valued at approximately $24,577,934.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Fichthorn bought 93,742 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were bought at an average cost of $29.28 per share, with a total value of $2,744,765.76. Following the completion of the purchase, the director now directly owns 72,869 shares of the company’s stock, valued at approximately $2,133,604.32. The disclosure for this purchase can be found here. Insiders sold 107,666 shares of company stock worth $4,339,589 over the last quarter. Insiders own 47.88% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of HIIQ. State of New Jersey Common Pension Fund D purchased a new position in Health Insurance Innovations during the fourth quarter valued at $12,296,000. Millennium Management LLC purchased a new position in Health Insurance Innovations during the fourth quarter valued at $11,197,000. River Road Asset Management LLC purchased a new position in Health Insurance Innovations during the first quarter valued at $10,621,000. Cannell Capital LLC grew its stake in Health Insurance Innovations by 66.9% during the fourth quarter. Cannell Capital LLC now owns 777,836 shares of the financial services provider’s stock valued at $20,792,000 after acquiring an additional 311,829 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Health Insurance Innovations during the third quarter valued at $18,713,000. 99.51% of the stock is owned by institutional investors.

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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Analyst Recommendations for Health Insurance Innovations (NASDAQ:HIIQ)

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