BidaskClub Lowers Health Insurance Innovations (NASDAQ:HIIQ) to Sell

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Health Insurance Innovations (NASDAQ:HIIQ) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday, BidAskClub reports.

A number of other research analysts also recently issued reports on HIIQ. Cantor Fitzgerald restated a “buy” rating and set a $75.00 price target on shares of Health Insurance Innovations in a research note on Thursday, March 28th. ValuEngine downgraded Virtu Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 18th. Zacks Investment Research downgraded Essential Properties Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, June 13th. Lake Street Capital dropped their price target on Nautilus from $8.00 to $5.00 and set a “hold” rating on the stock in a research note on Tuesday, May 7th. Finally, Northland Securities restated a “buy” rating and set a $12.00 price target on shares of Medallion Financial in a research note on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, seven have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $56.11.

NASDAQ:HIIQ opened at $22.99 on Friday. The stock’s 50 day moving average price is $26.17. The stock has a market cap of $320.20 million, a P/E ratio of 10.59 and a beta of 1.30. Health Insurance Innovations has a 52-week low of $18.27 and a 52-week high of $63.13.

Health Insurance Innovations (NASDAQ:HIIQ) last released its quarterly earnings results on Monday, May 6th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.08). The firm had revenue of $87.33 million for the quarter, compared to analysts’ expectations of $83.58 million. Health Insurance Innovations had a return on equity of 28.56% and a net margin of 3.48%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 EPS. Research analysts expect that Health Insurance Innovations will post 3.29 EPS for the current fiscal year.

In other Health Insurance Innovations news, major shareholder Michael W. Kosloske sold 28,802 shares of Health Insurance Innovations stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $26.13, for a total value of $752,596.26. Following the transaction, the insider now directly owns 320 shares in the company, valued at approximately $8,361.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Michael W. Kosloske sold 52,526 shares of Health Insurance Innovations stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $25.29, for a total value of $1,328,382.54. The disclosure for this sale can be found here. Insiders sold a total of 327,691 shares of company stock worth $8,504,415 over the last quarter. Company insiders own 47.88% of the company’s stock.

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Health Insurance Innovations by 1.8% in the 4th quarter. BlackRock Inc. now owns 854,321 shares of the financial services provider’s stock valued at $22,835,000 after purchasing an additional 14,963 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Health Insurance Innovations by 21.7% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 560,000 shares of the financial services provider’s stock valued at $15,019,000 after purchasing an additional 100,000 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Health Insurance Innovations in the 4th quarter valued at approximately $11,197,000. River Road Asset Management LLC purchased a new position in shares of Health Insurance Innovations in the 1st quarter valued at approximately $10,621,000. Finally, B. Riley Financial Inc. grew its stake in shares of Health Insurance Innovations by 97.1% in the 1st quarter. B. Riley Financial Inc. now owns 377,608 shares of the financial services provider’s stock valued at $10,127,000 after purchasing an additional 185,988 shares during the last quarter.

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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Analyst Recommendations for Health Insurance Innovations (NASDAQ:HIIQ)

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