Insider Selling: Health Insurance Innovations Inc (NASDAQ:HIIQ) Major Shareholder Sells 309,550 Shares of Stock

Health Insurance Innovations Inc (NASDAQ:HIIQ) major shareholder Michael W. Kosloske sold 309,550 shares of Health Insurance Innovations stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $18.33, for a total value of $5,674,051.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

HIIQ stock opened at $20.11 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $255.39 million, a price-to-earnings ratio of 10.93 and a beta of 1.38. Health Insurance Innovations Inc has a 12 month low of $15.95 and a 12 month high of $46.60. The firm has a 50 day moving average of $23.39 and a two-hundred day moving average of $23.09.

Health Insurance Innovations (NASDAQ:HIIQ) last released its quarterly earnings results on Tuesday, November 12th. The financial services provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.52. Health Insurance Innovations had a net margin of 3.93% and a return on equity of 29.73%. The business had revenue of $75.27 million for the quarter, compared to the consensus estimate of $91.23 million. During the same quarter last year, the firm earned $0.61 EPS. Health Insurance Innovations’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts expect that Health Insurance Innovations Inc will post 3.49 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of HIIQ. Advisory Services Network LLC lifted its stake in Health Insurance Innovations by 13.4% during the second quarter. Advisory Services Network LLC now owns 4,222 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 500 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Health Insurance Innovations by 373.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,340 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 1,057 shares in the last quarter. CenterStar Asset Management LLC bought a new position in shares of Health Insurance Innovations in the 2nd quarter valued at $27,000. Patriot Financial Group Insurance Agency LLC bought a new position in Health Insurance Innovations in the third quarter valued at about $27,000. Finally, Aperio Group LLC bought a new position in Health Insurance Innovations in the 2nd quarter valued at approximately $29,000. 85.44% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on HIIQ shares. Lake Street Capital reaffirmed a “buy” rating and issued a $50.00 price objective (up previously from $40.00) on shares of Health Insurance Innovations in a research note on Wednesday, November 13th. Cantor Fitzgerald reiterated a “buy” rating and issued a $80.00 price objective on shares of Health Insurance Innovations in a research note on Tuesday, November 26th. Craig Hallum cut their target price on shares of Health Insurance Innovations from $65.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. BidaskClub raised shares of Health Insurance Innovations from a “strong sell” rating to a “sell” rating in a research note on Saturday. Finally, Zacks Investment Research raised shares of Health Insurance Innovations from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $49.86.

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.

See Also: Retained Earnings

Insider Buying and Selling by Quarter for Health Insurance Innovations (NASDAQ:HIIQ)

Receive News & Ratings for Health Insurance Innovations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Health Insurance Innovations and related companies with MarketBeat.com's FREE daily email newsletter.