BidaskClub downgraded shares of Health Insurance Innovations (NASDAQ:HIIQ) from a strong-buy rating to a buy rating in a research report released on Thursday.
HIIQ has been the subject of a number of other research reports. B. Riley raised their target price on shares of Health Insurance Innovations from $56.00 to $60.00 and gave the company a buy rating in a research report on Thursday, September 27th. Canaccord Genuity reaffirmed a buy rating and issued a $62.00 target price (up previously from $55.00) on shares of Health Insurance Innovations in a research report on Thursday, August 2nd. Cantor Fitzgerald reaffirmed a buy rating on shares of Health Insurance Innovations in a research report on Friday, June 8th. ValuEngine downgraded shares of Health Insurance Innovations from a buy rating to a hold rating in a research report on Wednesday, June 27th. Finally, Zacks Investment Research raised shares of Health Insurance Innovations from a hold rating to a buy rating and set a $36.00 target price for the company in a research report on Tuesday, July 31st. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Health Insurance Innovations currently has a consensus rating of Buy and an average target price of $47.51.
Shares of HIIQ stock opened at $56.93 on Thursday. Health Insurance Innovations has a 12-month low of $15.95 and a 12-month high of $63.13. The firm has a market cap of $1.03 billion, a PE ratio of 47.44 and a beta of 0.54.
In other Health Insurance Innovations news, CEO of HealthPocket, Inc. division Bruce Telkamp sold 7,517 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $43.20, for a total value of $324,734.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sheldon Wang sold 6,593 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $43.33, for a total transaction of $285,674.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,110 shares of company stock valued at $980,909. 55.94% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in HIIQ. P2 Capital Partners LLC acquired a new stake in Health Insurance Innovations in the first quarter valued at $18,352,000. Point72 Asset Management L.P. acquired a new stake in Health Insurance Innovations in the second quarter valued at $7,759,000. Peregrine Capital Management LLC acquired a new stake in Health Insurance Innovations in the second quarter valued at $7,525,000. American Century Companies Inc. lifted its stake in Health Insurance Innovations by 1,809.1% in the second quarter. American Century Companies Inc. now owns 211,507 shares of the financial services provider’s stock valued at $6,842,000 after acquiring an additional 200,428 shares during the last quarter. Finally, Argent Capital Management LLC lifted its stake in Health Insurance Innovations by 170.9% in the second quarter. Argent Capital Management LLC now owns 127,700 shares of the financial services provider’s stock valued at $4,131,000 after acquiring an additional 80,555 shares during the last quarter. Hedge funds and other institutional investors own 86.89% of the company’s stock.
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 provides three months of health insurance coverage with various deductible and copay levels; health benefit insurance plans, which offer daily cash benefit for hospital treatment and doctor office visits, as well as accidental injury and death or dismemberment benefits; and supplemental insurance products, including pharmacy benefit cards, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and life insurance policies.
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