Cantor Fitzgerald reiterated their buy rating on shares of Health Insurance Innovations (NASDAQ:HIIQ) in a research report sent to investors on Friday, December 20th, TipRanks reports. Cantor Fitzgerald currently has a $80.00 price objective on the financial services provider’s stock.
Several other research analysts have also commented on HIIQ. Craig Hallum decreased their price target on shares of Health Insurance Innovations from $50.00 to $40.00 and set a buy rating for the company in a report on Friday, December 13th. They noted that the move was a valuation call. Lake Street Capital reaffirmed a buy rating and issued a $50.00 price target (up from $40.00) on shares of Health Insurance Innovations in a report on Wednesday, November 13th. BidaskClub raised shares of Health Insurance Innovations from a sell rating to a hold rating in a report on Wednesday, December 18th. Raymond James downgraded shares of Health Insurance Innovations from an outperform rating to a market perform rating in a research report on Monday, November 18th. Finally, Zacks Investment Research upgraded shares of Health Insurance Innovations from a sell rating to a hold rating in a research report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $48.43.
Health Insurance Innovations stock traded up $0.19 during midday trading on Friday, hitting $19.12. 349,648 shares of the stock were exchanged, compared to its average volume of 543,028. Health Insurance Innovations has a 1 year low of $15.95 and a 1 year high of $46.60. The firm has a market cap of $260.93 million, a P/E ratio of 10.39 and a beta of 1.35. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.10 and a quick ratio of 1.10. The company has a 50 day moving average price of $19.18 and a two-hundred day moving average price of $21.66.
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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.52. The firm had revenue of $75.27 million for the quarter, compared to the consensus estimate of $91.23 million. Health Insurance Innovations had a net margin of 3.93% and a return on equity of 29.73%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 EPS. As a group, analysts predict that Health Insurance Innovations will post 3.52 EPS for the current year.
In other news, major shareholder Michael W. Kosloske sold 6,250 shares of Health Insurance Innovations stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $19.14, for a total value of $119,625.00. Also, major shareholder Michael W. Kosloske sold 52,829 shares of Health Insurance Innovations stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $18.37, for a total transaction of $970,468.73. The disclosure for this sale can be found here. Insiders sold a total of 368,629 shares of company stock worth $6,764,145 over the last quarter. Insiders own 47.88% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC purchased a new position in Health Insurance Innovations during the third quarter valued at approximately $27,000. Aperio Group LLC bought a new stake in Health Insurance Innovations in the second quarter worth approximately $29,000. Tower Research Capital LLC TRC grew its position in Health Insurance Innovations by 373.5% in the third quarter. Tower Research Capital LLC TRC now owns 1,340 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 1,057 shares in the last quarter. FNY Investment Advisers LLC grew its position in Health Insurance Innovations by 685.7% in the third quarter. FNY Investment Advisers LLC now owns 2,750 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 2,400 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Health Insurance Innovations in the third quarter worth approximately $115,000. 85.26% of the stock is currently owned by hedge funds and other 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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