Health Insurance Innovations Inc (NASDAQ:HIIQ) Director John Fichthorn bought 93,742 shares of Health Insurance Innovations stock in a transaction that occurred on Wednesday, March 20th. The stock was purchased at an average cost of $29.28 per share, for a total transaction of $2,744,765.76. Following the acquisition, the director now owns 72,869 shares of the company’s stock, valued at $2,133,604.32. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of HIIQ opened at $29.34 on Friday. The company has a market cap of $505.12 million, a PE ratio of 15.95 and a beta of 1.79. Health Insurance Innovations Inc has a 12-month low of $21.65 and a 12-month high of $63.13.
Health Insurance Innovations (NASDAQ:HIIQ) last announced its earnings results on Wednesday, March 6th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.21. The business had revenue of $131.90 million for the quarter, compared to analyst estimates of $83.12 million. Health Insurance Innovations had a net margin of 4.49% and a return on equity of 28.34%. The company’s revenue for the quarter was up 89.8% compared to the same quarter last year. During the same period last year, the firm posted $0.37 earnings per share. As a group, research analysts predict that Health Insurance Innovations Inc will post 2.43 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in HIIQ. State of New Jersey Common Pension Fund D purchased a new position in shares of Health Insurance Innovations during the fourth quarter worth approximately $12,296,000. Millennium Management LLC purchased a new position in shares of Health Insurance Innovations during the fourth quarter worth approximately $11,197,000. Cannell Capital LLC grew its position in shares of 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 worth $20,792,000 after acquiring an additional 311,829 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Health Insurance Innovations during the third quarter worth approximately $18,713,000. Finally, Kornitzer Capital Management Inc. KS grew its position in shares of Health Insurance Innovations by 690.7% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 240,740 shares of the financial services provider’s stock worth $6,435,000 after acquiring an additional 210,295 shares during the last quarter.
Several equities analysts have commented on HIIQ shares. ValuEngine upgraded shares of Health Insurance Innovations from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Zacks Investment Research lowered shares of Health Insurance Innovations from a “buy” rating to a “hold” rating in a research note on Friday, March 8th. B. Riley lowered shares of Health Insurance Innovations from a “buy” rating to a “neutral” rating and dropped their price target for the company from $50.00 to $45.00 in a research note on Wednesday, February 27th. BidaskClub upgraded shares of Health Insurance Innovations from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. Finally, Lake Street Capital increased their price target on shares of Health Insurance Innovations to $80.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $58.88.
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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 three months of health insurance coverage with various deductible and copay levels; health benefit insurance plans, which offer daily cash benefit for hospital treatment and doctor office visits, as well as accidental injury and death or dismemberment benefits; and supplemental insurance products, including pharmacy benefit cards, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and life insurance policies.
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