ValuEngine Lowers Health Insurance Innovations (NASDAQ:HIIQ) to Strong Sell

ValuEngine downgraded shares of Health Insurance Innovations (NASDAQ:HIIQ) from a sell rating to a strong sell rating in a report issued on Tuesday morning, ValuEngine reports.

A number of other brokerages have also recently weighed in on HIIQ. Craig Hallum lowered their price target on Health Insurance Innovations from $65.00 to $50.00 and set a buy rating on the stock in a research report on Tuesday, August 6th. Lake Street Capital lowered their price target on Health Insurance Innovations from $50.00 to $40.00 and set a buy rating on the stock in a research report on Tuesday, August 6th. BidaskClub cut Health Insurance Innovations from a hold rating to a sell rating in a research report on Tuesday, August 6th. TheStreet cut Health Insurance Innovations from a b- rating to a c rating in a research report on Tuesday, May 7th. Finally, Northland Securities reiterated a buy rating and issued a $60.00 price target on shares of Health Insurance Innovations in a research report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $51.13.

Shares of NASDAQ:HIIQ opened at $17.54 on Tuesday. The business’s fifty day moving average price is $22.49 and its two-hundred day moving average price is $28.05. Health Insurance Innovations has a fifty-two week low of $16.70 and a fifty-two week high of $63.13. The stock has a market capitalization of $242.48 million, a price-to-earnings ratio of 8.18 and a beta of 1.30. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.99 and a quick ratio of 0.99.

Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings results on Monday, August 5th. The financial services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.46. Health Insurance Innovations had a return on equity of 29.83% and a net margin of 3.44%. The firm had revenue of $58.36 million for the quarter, compared to analysts’ expectations of $76.76 million. During the same period in the prior year, the business posted $0.53 earnings per share. The business’s revenue was down 18.7% compared to the same quarter last year. Research analysts expect that Health Insurance Innovations will post 3.52 EPS for the current fiscal year.

In other news, major shareholder Michael W. Kosloske sold 105,401 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $26.08, for a total transaction of $2,748,858.08. Following the sale, the insider now owns 69,720 shares in the company, valued at $1,818,297.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Michael W. Kosloske sold 41,393 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $25.59, for a total value of $1,059,246.87. Following the sale, the insider now owns 320 shares in the company, valued at approximately $8,188.80. The disclosure for this sale can be found here. Insiders have sold 327,691 shares of company stock worth $8,504,415 in the last 90 days. Company insiders own 47.88% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Health Insurance Innovations by 18.8% during the second quarter. Vanguard Group Inc. now owns 903,937 shares of the financial services provider’s stock worth $23,430,000 after purchasing an additional 143,054 shares during the last quarter. P2 Capital Partners LLC grew its holdings in shares of Health Insurance Innovations by 2,666.7% during the second quarter. P2 Capital Partners LLC now owns 830,000 shares of the financial services provider’s stock worth $21,514,000 after purchasing an additional 800,000 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Health Insurance Innovations by 21.7% during the first quarter. State of New Jersey Common Pension Fund D now owns 560,000 shares of the financial services provider’s stock worth $15,019,000 after purchasing an additional 100,000 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Health Insurance Innovations during the second quarter worth $12,981,000. Finally, Capital Returns Management LLC grew its holdings in shares of Health Insurance Innovations by 148.2% during the second quarter. Capital Returns Management LLC now owns 406,966 shares of the financial services provider’s stock worth $10,549,000 after purchasing an additional 242,981 shares during the last quarter.

About Health Insurance Innovations

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.

Featured Article: Why is cost of goods sold important?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Health Insurance Innovations (NASDAQ:HIIQ)

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.