Health Insurance Innovations, Inc. (NASDAQ:HIIQ) Upgraded to Buy at ValuEngine

ValuEngine upgraded shares of Health Insurance Innovations, Inc. (NASDAQ:HIIQ) from a hold rating to a buy rating in a research report released on Friday, September 1st.

A number of other research firms have also recently commented on HIIQ. Zacks Investment Research upgraded Health Insurance Innovations from a hold rating to a strong-buy rating and set a $27.00 price objective on the stock in a report on Wednesday, June 21st. Craig Hallum assumed coverage on Health Insurance Innovations in a report on Monday, June 12th. They issued a buy rating and a $28.00 price objective on the stock. Canaccord Genuity reiterated a buy rating and issued a $39.00 price objective (up from $30.00) on shares of Health Insurance Innovations in a report on Friday, August 4th. Finally, Raymond James Financial, Inc. upgraded Health Insurance Innovations from a market perform rating to an outperform rating and set a $20.00 price objective on the stock in a report on Thursday, May 4th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $31.33.

Health Insurance Innovations (NASDAQ:HIIQ) traded up 5.14% during midday trading on Friday, hitting $22.50. The stock had a trading volume of 1,533,609 shares. Health Insurance Innovations has a 12-month low of $4.00 and a 12-month high of $37.38. The firm has a 50-day moving average of $30.59 and a 200-day moving average of $22.78. The company has a market cap of $280.55 million, a PE ratio of 18.20 and a beta of 0.65.

Health Insurance Innovations (NASDAQ:HIIQ) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.13. The business had revenue of $61.80 million during the quarter, compared to analyst estimates of $53.69 million. Health Insurance Innovations had a return on equity of 22.89% and a net margin of 5.56%. The firm’s revenue for the quarter was up 38.9% compared to the same quarter last year. Equities research analysts forecast that Health Insurance Innovations will post $1.53 EPS for the current year.

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In other Health Insurance Innovations news, CEO Bruce Telkamp sold 9,970 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $36.19, for a total transaction of $360,814.30. Following the transaction, the chief executive officer now directly owns 19,500 shares in the company, valued at $705,705. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sheldon Wang sold 4,530 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $32.73, for a total value of $148,266.90. Following the transaction, the insider now owns 224,894 shares in the company, valued at $7,360,780.62. The disclosure for this sale can be found here. Insiders have sold 221,248 shares of company stock worth $6,203,127 over the last 90 days. 30.00% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley raised its stake in shares of Health Insurance Innovations by 240.2% in the first quarter. Morgan Stanley now owns 70,397 shares of the financial services provider’s stock valued at $1,127,000 after acquiring an additional 49,703 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Health Insurance Innovations in the first quarter valued at $648,000. Granite Point Capital Management L.P. raised its stake in shares of Health Insurance Innovations by 8.8% in the second quarter. Granite Point Capital Management L.P. now owns 87,900 shares of the financial services provider’s stock valued at $2,066,000 after acquiring an additional 7,100 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Health Insurance Innovations by 92.2% in the first quarter. Vanguard Group Inc. now owns 406,293 shares of the financial services provider’s stock valued at $6,500,000 after acquiring an additional 194,907 shares in the last quarter. Finally, Dialectic Capital Management LP raised its stake in shares of Health Insurance Innovations by 39.7% in the first quarter. Dialectic Capital Management LP now owns 496,300 shares of the financial services provider’s stock valued at $7,941,000 after acquiring an additional 141,083 shares in the last quarter. Institutional investors and hedge funds own 90.32% of the company’s stock.

About Health Insurance Innovations

Health Insurance Innovations, Inc is a developer, distributor and cloud-based administrator of individual and family health insurance plans (IFPs) and supplemental products, which include short-term medical (STM) insurance plans, and guaranteed-issue and underwritten hospital indemnity plans. The Company also develops, distributes and administers supplemental products, which include a range of additional insurance and non-insurance products, such as pharmacy benefit cards, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and life insurance policies that are purchased as supplements to IFP.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Health Insurance Innovations (NASDAQ:HIIQ)

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