Goldman Sachs Group Inc. Decreases Stake in Health Insurance Innovations, Inc. (HIIQ)

Goldman Sachs Group Inc. reduced its holdings in Health Insurance Innovations, Inc. (NASDAQ:HIIQ) by 78.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,698 shares of the financial services provider’s stock after selling 60,303 shares during the period. Goldman Sachs Group Inc. owned approximately 0.13% of Health Insurance Innovations worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of HIIQ. Bank of New York Mellon Corp lifted its stake in shares of Health Insurance Innovations by 11.5% in the first quarter. Bank of New York Mellon Corp now owns 12,270 shares of the financial services provider’s stock worth $197,000 after buying an additional 1,266 shares in the last quarter. Vanguard Group Inc. increased its position in Health Insurance Innovations by 92.2% during the first quarter. Vanguard Group Inc. now owns 406,293 shares of the financial services provider’s stock worth $6,500,000 after purchasing an additional 194,907 shares during the last quarter. Geode Capital Management LLC increased its position in Health Insurance Innovations by 57.0% during the first quarter. Geode Capital Management LLC now owns 62,992 shares of the financial services provider’s stock worth $1,007,000 after purchasing an additional 22,860 shares during the last quarter. Morgan Stanley increased its position in Health Insurance Innovations by 240.2% during the first quarter. Morgan Stanley now owns 70,397 shares of the financial services provider’s stock worth $1,127,000 after purchasing an additional 49,703 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Health Insurance Innovations by 180.6% during the first quarter. Renaissance Technologies LLC now owns 600,203 shares of the financial services provider’s stock worth $9,603,000 after purchasing an additional 386,303 shares during the last quarter. 62.42% of the stock is currently owned by hedge funds and other institutional investors.

In other Health Insurance Innovations news, CFO Michael D. Hershberger sold 17,769 shares of Health Insurance Innovations stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $31.42, for a total transaction of $558,301.98. Following the completion of the sale, the chief financial officer now directly owns 94,569 shares in the company, valued at $2,971,357.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO of HealthPocket Bruce Telkamp sold 9,970 shares of Health Insurance Innovations stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $36.19, for a total transaction of $360,814.30. Following the sale, the insider now owns 19,500 shares of the company’s stock, valued at $705,705. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,576 shares of company stock valued at $1,584,152. Company insiders own 30.00% of the company’s stock.

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Shares of Health Insurance Innovations, Inc. (HIIQ) opened at $22.95 on Thursday. Health Insurance Innovations, Inc. has a 12-month low of $8.51 and a 12-month high of $37.38. The firm has a market cap of $401.12, a PE ratio of 16.50 and a beta of 0.63.

Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. Health Insurance Innovations had a net margin of 5.98% and a return on equity of 21.32%. The business had revenue of $63.34 million during the quarter, compared to analysts’ expectations of $59.30 million. During the same period last year, the business earned $0.33 earnings per share. The business’s revenue for the quarter was up 37.4% on a year-over-year basis. research analysts expect that Health Insurance Innovations, Inc. will post 1.65 EPS for the current fiscal year.

Health Insurance Innovations declared that its Board of Directors has authorized a share repurchase plan on Monday, October 16th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Several equities research analysts recently issued reports on HIIQ shares. Canaccord Genuity restated a “buy” rating and set a $39.00 price objective on shares of Health Insurance Innovations in a research report on Friday, September 1st. ValuEngine upgraded shares of Health Insurance Innovations from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research cut shares of Health Insurance Innovations from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Cantor Fitzgerald restated a “buy” rating and set a $38.00 price objective on shares of Health Insurance Innovations in a research report on Friday, September 1st. Finally, TheStreet cut shares of Health Insurance Innovations from a “b-” rating to a “c” rating in a research report on Thursday, September 28th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $30.86.

Health Insurance Innovations Profile

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.

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Institutional Ownership by Quarter for Health Insurance Innovations (NASDAQ:HIIQ)

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