Health Insurance Innovations (HIIQ) Upgraded to Sell by BidaskClub

BidaskClub upgraded shares of Health Insurance Innovations (NASDAQ:HIIQ) from a strong sell rating to a sell rating in a research note issued to investors on Wednesday, BidAskClub reports.

Several other equities analysts have also recently weighed in on HIIQ. B. Riley cut shares of Health Insurance Innovations from a buy rating to a neutral rating and cut their target price for the company from $50.00 to $45.00 in a research note on Wednesday, February 27th. ValuEngine cut shares of Health Insurance Innovations from a buy rating to a hold rating in a research note on Friday, March 1st. Lake Street Capital lifted their price objective on shares of Health Insurance Innovations to $80.00 and gave the stock a buy rating in a research note on Thursday, March 7th. Zacks Investment Research raised shares of Health Insurance Innovations from a hold rating to a buy rating and set a $39.00 price objective for the company in a research note on Thursday, March 7th. Finally, Cantor Fitzgerald reissued a buy rating and issued a $75.00 price objective on shares of Health Insurance Innovations in a research note on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have issued 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 target price of $56.78.

HIIQ opened at $24.90 on Wednesday. The firm has a market cap of $346.81 million, a P/E ratio of 13.53 and a beta of 1.61. Health Insurance Innovations has a fifty-two week low of $18.27 and a fifty-two week high of $63.13.

Health Insurance Innovations (NASDAQ:HIIQ) last posted its earnings results on Monday, May 6th. The financial services provider reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.08). The company had revenue of $87.33 million for the quarter, compared to analysts’ expectations of $83.58 million. Health Insurance Innovations had a net margin of 3.48% and a return on equity of 28.56%. The business’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 earnings per share. As a group, equities analysts predict that Health Insurance Innovations will post 2.81 EPS for the current fiscal year.

In other Health Insurance Innovations news, Director John Fichthorn acquired 93,742 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was acquired at an average cost of $29.28 per share, with a total value of $2,744,765.76. Following the purchase, the director now directly owns 72,869 shares of the company’s stock, valued at approximately $2,133,604.32. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 47.88% of the company’s stock.

Large investors have recently modified their holdings of the business. Brown Advisory Inc. grew its stake in shares of Health Insurance Innovations by 102.4% in the 4th quarter. Brown Advisory Inc. now owns 21,620 shares of the financial services provider’s stock worth $578,000 after buying an additional 10,938 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Health Insurance Innovations in the 4th quarter worth about $1,413,000. Wesbanco Bank Inc. lifted its holdings in shares of Health Insurance Innovations by 56.6% in the 4th quarter. Wesbanco Bank Inc. now owns 22,116 shares of the financial services provider’s stock worth $591,000 after acquiring an additional 7,989 shares during the last quarter. NJ State Employees Deferred Compensation Plan lifted its holdings in shares of Health Insurance Innovations by 66.7% in the 4th quarter. NJ State Employees Deferred Compensation Plan now owns 20,000 shares of the financial services provider’s stock worth $535,000 after acquiring an additional 8,000 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Health Insurance Innovations by 90.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 84,214 shares of the financial services provider’s stock worth $5,192,000 after acquiring an additional 39,967 shares during the last quarter. 96.77% of the stock is owned by institutional investors and hedge funds.

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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