Health Insurance Innovations Inc (NASDAQ:HIIQ) shot up 6.2% during trading on Wednesday . The company traded as high as $20.05 and last traded at $19.92, 533,380 shares changed hands during trading. A decline of 35% from the average session volume of 824,722 shares. The stock had previously closed at $18.75.

A number of brokerages have recently commented on HIIQ. Craig Hallum dropped their price objective on shares of Health Insurance Innovations from $65.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Zacks Investment Research upgraded Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Saturday, August 10th. BidaskClub upgraded Health Insurance Innovations from a “strong sell” rating to a “sell” rating in a research report on Friday. Lake Street Capital decreased their target price 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. Finally, ValuEngine lowered Health Insurance Innovations from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $51.13.

The stock has a market cap of $279.35 million, a PE ratio of 10.66 and a beta of 1.42. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.45. The business has a 50-day moving average price of $19.36 and a 200-day moving average price of $25.18.

Health Insurance Innovations (NASDAQ:HIIQ) last announced its earnings results on Monday, August 5th. The financial services provider reported $0.71 earnings per share (EPS) 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 analyst estimates of $76.76 million. During the same quarter last year, the firm posted $0.53 EPS. The business’s revenue was down 18.7% on a year-over-year basis. Equities analysts expect that Health Insurance Innovations Inc will post 3.54 earnings per share for the current year.

In other Health Insurance Innovations news, major shareholder Michael W. Kosloske sold 52,526 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $25.29, for a total value of $1,328,382.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Michael W. Kosloske sold 41,393 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $25.59, for a total value of $1,059,246.87. Following the completion of the transaction, 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 a total of 327,691 shares of company stock worth $8,504,415 in the last quarter. Insiders own 47.88% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. CenterStar Asset Management LLC purchased a new position in Health Insurance Innovations in the 2nd quarter valued at $27,000. Aperio Group LLC purchased a new position in Health Insurance Innovations in the 2nd quarter valued at $29,000. BNP Paribas Arbitrage SA lifted its holdings in Health Insurance Innovations by 8,309.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,691 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 2,659 shares in the last quarter. OLD Second National Bank of Aurora lifted its holdings in Health Insurance Innovations by 44.9% in the 2nd quarter. OLD Second National Bank of Aurora now owns 3,741 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 1,159 shares in the last quarter. Finally, Advisory Services Network LLC lifted its holdings in Health Insurance Innovations by 13.4% in the 2nd quarter. Advisory Services Network LLC now owns 4,222 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 98.55% of the company’s stock.

About Health Insurance Innovations (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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