Health Insurance Innovations Inc (NASDAQ:HIIQ) rose 5.1% during trading on Tuesday . The company traded as high as $26.53 and last traded at $26.12. Approximately 1,193,745 shares changed hands during mid-day trading, an increase of 26% from the average daily volume of 947,688 shares. The stock had previously closed at $24.85.

HIIQ has been the topic of a number of recent research reports. BidaskClub raised Health Insurance Innovations from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Zacks Investment Research raised Health Insurance Innovations from a “strong sell” rating to a “hold” rating in a research note on Friday, January 4th. ValuEngine raised Health Insurance Innovations from a “hold” rating to a “buy” rating in a research note on Saturday, January 19th. Lake Street Capital increased their target price on Health Insurance Innovations to $80.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Finally, B. Riley raised Health Insurance Innovations from a “neutral” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Monday, March 18th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $60.13.

The firm has a market cap of $434.19 million, a PE ratio of 14.20 and a beta of 1.73.

Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings results on Wednesday, March 6th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.21. The firm had revenue of $131.90 million for the quarter, compared to the consensus estimate of $83.12 million. Health Insurance Innovations had a return on equity of 28.34% and a net margin of 4.49%. The company’s quarterly revenue was up 89.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share. Research analysts forecast that Health Insurance Innovations Inc will post 2.67 EPS for the current fiscal year.

In other news, CEO Gavin Southwell sold 6,150 shares of the company’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $40.02, for a total transaction of $246,123.00. Following the transaction, the chief executive officer now directly owns 609,723 shares of the company’s stock, valued at $24,401,114.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael D. Hershberger sold 40,389 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $40.31, for a total value of $1,628,080.59. Following the transaction, the chief financial officer now directly owns 85,329 shares in the company, valued at $3,439,611.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,666 shares of company stock worth $4,739,789. Corporate insiders own 55.94% of the company’s stock.

A number of hedge funds have recently bought and sold shares of HIIQ. State of New Jersey Common Pension Fund D bought a new position in Health Insurance Innovations in the fourth quarter valued at about $12,296,000. Millennium Management LLC bought a new position in Health Insurance Innovations in the fourth quarter valued at about $11,197,000. Cannell Capital LLC lifted its holdings in Health Insurance Innovations by 66.9% in the fourth quarter. Cannell Capital LLC now owns 777,836 shares of the financial services provider’s stock valued at $20,792,000 after acquiring an additional 311,829 shares during the period. Marshall Wace LLP bought a new position in Health Insurance Innovations in the third quarter valued at about $18,713,000. Finally, Kornitzer Capital Management Inc. KS lifted its holdings in Health Insurance Innovations by 690.7% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 240,740 shares of the financial services provider’s stock valued at $6,435,000 after acquiring an additional 210,295 shares during the period. 99.34% of the stock is currently owned by institutional investors.

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Health Insurance Innovations Company Profile (NASDAQ:HIIQ)

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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