Health Insurance Innovations (HIIQ) Stock Price Up 5.1%
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.
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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