Health Insurance Innovations Inc (NASDAQ:HIIQ) shares dropped 6% during mid-day trading on Friday . The company traded as low as $18.45 and last traded at $18.57, approximately 1,224,496 shares were traded during trading. An increase of 58% from the average daily volume of 777,445 shares. The stock had previously closed at $19.75.
HIIQ has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed a “buy” rating and set a $80.00 price objective on shares of Health Insurance Innovations in a report on Friday, December 20th. BidaskClub raised shares of Health Insurance Innovations from a “sell” rating to a “hold” rating in a report on Wednesday, December 18th. Craig Hallum cut their price objective 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. ValuEngine lowered shares of Health Insurance Innovations from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Finally, B. Riley reaffirmed a “buy” rating and set a $45.00 price objective on shares of Health Insurance Innovations in a report on Tuesday, December 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $48.43.
The business’s fifty day moving average is $20.15 and its two-hundred day moving average is $22.38. 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 stock has a market capitalization of $280.69 million, a PE ratio of 9.10 and a beta of 1.36.
Health Insurance Innovations (NASDAQ:HIIQ) last posted its 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 firm had revenue of $75.27 million during the quarter, compared to analyst estimates of $91.23 million. During the same period last year, the firm posted $0.61 earnings per share. Health Insurance Innovations’s revenue for the quarter was up 5.3% compared to the same quarter last year. Sell-side analysts expect that Health Insurance Innovations Inc will post 3.52 EPS for the current fiscal year.
In related news, major shareholder Michael W. Kosloske sold 309,550 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $18.33, for a total value of $5,674,051.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Michael W. Kosloske sold 6,250 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $19.14, for a total value of $119,625.00. Over the last three months, insiders sold 368,629 shares of company stock valued at $6,764,145. 47.88% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in HIIQ. Patriot Financial Group Insurance Agency LLC purchased a new position in Health Insurance Innovations in the third quarter valued at about $27,000. Aperio Group LLC purchased a new position in Health Insurance Innovations in the second quarter valued at about $29,000. Tower Research Capital LLC TRC grew its stake 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 valued at $33,000 after purchasing an additional 1,057 shares during the last quarter. FNY Investment Advisers LLC grew its stake 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 valued at $68,000 after purchasing an additional 2,400 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Health Insurance Innovations in the third quarter valued at about $115,000. Hedge funds and other institutional investors own 85.26% of the company’s stock.
About Health Insurance Innovations (NASDAQ:HIIQ)
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.
Read More: What Does a Sell-Side Analyst Rating Mean?
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.