BNP Paribas Arbitrage SA boosted its stake in shares of Health Insurance Innovations Inc (NASDAQ:HIIQ) by 8,309.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,691 shares of the financial services provider’s stock after buying an additional 2,659 shares during the period. BNP Paribas Arbitrage SA’s holdings in Health Insurance Innovations were worth $72,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in Health Insurance Innovations by 328.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,310 shares of the financial services provider’s stock valued at $88,000 after buying an additional 2,538 shares in the last quarter. Macquarie Group Ltd. increased its position in Health Insurance Innovations by 196.3% during the 4th quarter. Macquarie Group Ltd. now owns 3,556 shares of the financial services provider’s stock valued at $95,000 after buying an additional 2,356 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in Health Insurance Innovations by 366.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,203 shares of the financial services provider’s stock valued at $112,000 after buying an additional 3,302 shares in the last quarter. Ibex Investors LLC increased its position in Health Insurance Innovations by 133.9% during the 4th quarter. Ibex Investors LLC now owns 8,272 shares of the financial services provider’s stock valued at $221,000 after buying an additional 4,736 shares in the last quarter. Finally, Mackay Shields LLC bought a new position in Health Insurance Innovations during the 4th quarter valued at approximately $241,000.
A number of research analysts recently weighed in on HIIQ shares. TheStreet lowered Health Insurance Innovations from a “b-” rating to a “c” rating in a research report on Tuesday, May 7th. Northland Securities reissued a “buy” rating and issued a $60.00 target price on shares of Health Insurance Innovations in a report on Tuesday, May 7th. B. Riley raised Health Insurance Innovations from a “neutral” rating to a “buy” rating and set a $45.00 target price for the company in a report on Monday, March 18th. ValuEngine lowered Health Insurance Innovations from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, BidaskClub lowered Health Insurance Innovations from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Two research analysts have rated the stock with a sell rating, seven have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $56.11.
Shares of HIIQ stock traded up $1.20 on Friday, reaching $25.92. The stock had a trading volume of 396,258 shares, compared to its average volume of 921,618. The firm has a market cap of $361.01 million, a PE ratio of 14.09 and a beta of 1.44. Health Insurance Innovations Inc has a 1 year low of $18.27 and a 1 year high of $63.13. The stock’s 50 day simple moving average is $25.37.
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 the Zacks’ consensus estimate of $0.39 by ($0.08). The firm had revenue of $87.33 million during 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 business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the business earned $0.70 earnings per share. On average, sell-side analysts forecast that Health Insurance Innovations Inc will post 3.29 EPS for the current fiscal year.
Health Insurance Innovations 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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