Health Insurance Innovations (NASDAQ:HIIQ) Cut to “C” at TheStreet

Health Insurance Innovations (NASDAQ:HIIQ) was downgraded by research analysts at TheStreet from a “b-” rating to a “c” rating in a report released on Tuesday, May 7th, TheStreetRatingsTable reports.

Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Health Insurance Innovations from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Lake Street Capital decreased their target price on shares of Health Insurance Innovations from $80.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. ValuEngine cut shares of Health Insurance Innovations from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 13th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $75.00 price target on shares of Health Insurance Innovations in a research report on Thursday, March 28th. Finally, Northland Securities reaffirmed a “buy” rating and set a $60.00 price target on shares of Health Insurance Innovations in a research report on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Health Insurance Innovations presently has an average rating of “Buy” and a consensus price target of $56.78.

Shares of HIIQ traded up $2.32 during trading hours on Tuesday, reaching $25.79. The company had a trading volume of 675,943 shares, compared to its average volume of 941,962. Health Insurance Innovations has a 12-month low of $18.27 and a 12-month high of $63.13. The company has a market capitalization of $324.66 million, a PE ratio of 14.02 and a beta of 1.61.

Health Insurance Innovations (NASDAQ:HIIQ) last posted its earnings results on Monday, May 6th. The financial services provider reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.08). The business had revenue of $87.33 million for the quarter, compared to analysts’ expectations of $83.58 million. Health Insurance Innovations had a net margin of 3.48% and a return on equity of 28.56%. The business’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 earnings per share. As a group, equities analysts forecast that Health Insurance Innovations will post 2.81 EPS for the current fiscal year.

In other Health Insurance Innovations news, Director John Fichthorn bought 93,742 shares of the stock in a transaction on Wednesday, March 20th. The stock was purchased at an average price of $29.28 per share, for a total transaction of $2,744,765.76. Following the completion of the purchase, the director now directly owns 72,869 shares in the company, valued at $2,133,604.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 47.88% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in Health Insurance Innovations by 90.3% in the third quarter. Bank of New York Mellon Corp now owns 84,214 shares of the financial services provider’s stock worth $5,192,000 after purchasing an additional 39,967 shares during the period. BlackRock Inc. lifted its holdings in Health Insurance Innovations by 6.9% in the third quarter. BlackRock Inc. now owns 839,358 shares of the financial services provider’s stock worth $51,745,000 after purchasing an additional 54,419 shares during the period. JPMorgan Chase & Co. lifted its holdings in Health Insurance Innovations by 60.1% in the third quarter. JPMorgan Chase & Co. now owns 83,470 shares of the financial services provider’s stock worth $5,145,000 after purchasing an additional 31,321 shares during the period. MetLife Investment Advisors LLC lifted its holdings in Health Insurance Innovations by 57.1% in the third quarter. MetLife Investment Advisors LLC now owns 9,084 shares of the financial services provider’s stock worth $560,000 after purchasing an additional 3,302 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Health Insurance Innovations by 9.3% in the third quarter. Vanguard Group Inc. now owns 545,693 shares of the financial services provider’s stock worth $33,642,000 after purchasing an additional 46,286 shares during the period.

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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