Alliancebernstein L.P. acquired a new stake in shares of Health Insurance Innovations, Inc. (NASDAQ:HIIQ) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,200 shares of the financial services provider’s stock, valued at approximately $240,000. Alliancebernstein L.P. owned 0.09% of Health Insurance Innovations as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of HIIQ. Bank of New York Mellon Corp raised its stake in shares of Health Insurance Innovations by 11.5% during the first quarter. Bank of New York Mellon Corp now owns 12,270 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 1,266 shares during the period. Vanguard Group Inc. grew its position in shares of Health Insurance Innovations by 92.2% during the first quarter. Vanguard Group Inc. now owns 406,293 shares of the financial services provider’s stock worth $6,500,000 after buying an additional 194,907 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Health Insurance Innovations by 57.0% during the first quarter. Geode Capital Management LLC now owns 62,992 shares of the financial services provider’s stock worth $1,007,000 after buying an additional 22,860 shares in the last quarter. Morgan Stanley grew its position in shares of Health Insurance Innovations by 240.2% during the first quarter. Morgan Stanley now owns 70,397 shares of the financial services provider’s stock worth $1,127,000 after buying an additional 49,703 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Health Insurance Innovations by 180.6% during the first quarter. Renaissance Technologies LLC now owns 600,203 shares of the financial services provider’s stock worth $9,603,000 after buying an additional 386,303 shares in the last quarter. Institutional investors own 64.28% of the company’s stock.

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Health Insurance Innovations, Inc. (NASDAQ HIIQ) opened at $23.95 on Friday. The company has a market cap of $396.16, a price-to-earnings ratio of 16.29 and a beta of 0.63. Health Insurance Innovations, Inc. has a 1-year low of $7.52 and a 1-year high of $37.38.

Health Insurance Innovations (NASDAQ:HIIQ) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. The firm had revenue of $63.34 million during the quarter, compared to the consensus estimate of $59.30 million. Health Insurance Innovations had a net margin of 5.98% and a return on equity of 21.32%. The firm’s revenue was up 37.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 earnings per share. research analysts predict that Health Insurance Innovations, Inc. will post 1.65 earnings per share for the current fiscal year.

Health Insurance Innovations declared that its board has approved a share repurchase program on Monday, October 16th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

In other Health Insurance Innovations news, insider Sheldon Wang sold 16,307 shares of Health Insurance Innovations stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $31.69, for a total value of $516,768.83. Following the completion of the transaction, the insider now owns 229,001 shares of the company’s stock, valued at $7,257,041.69. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO of HealthPocket Bruce Telkamp sold 9,970 shares of Health Insurance Innovations stock in a transaction on Friday, September 1st. The stock was sold at an average price of $36.19, for a total transaction of $360,814.30. Following the completion of the transaction, the insider now directly owns 19,500 shares of the company’s stock, valued at approximately $705,705. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,576 shares of company stock valued at $1,584,152. 30.00% of the stock is currently owned by corporate insiders.

HIIQ has been the subject of a number of recent analyst reports. Canaccord Genuity reissued a “buy” rating and set a $39.00 price target on shares of Health Insurance Innovations in a research report on Wednesday, September 13th. Cantor Fitzgerald reissued a “buy” rating and set a $38.00 price target on shares of Health Insurance Innovations in a research report on Monday, September 25th. ValuEngine raised shares of Health Insurance Innovations from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 2nd. TheStreet downgraded shares of Health Insurance Innovations from a “b-” rating to a “c” rating in a research report on Thursday, September 28th. Finally, Zacks Investment Research downgraded shares of Health Insurance Innovations from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Health Insurance Innovations presently has a consensus rating of “Buy” and a consensus price target of $30.86.

Health Insurance Innovations Company Profile

Health Insurance Innovations, Inc is a developer, distributor and cloud-based administrator of individual and family health insurance plans (IFPs) and supplemental products, which include short-term medical (STM) insurance plans, and guaranteed-issue and underwritten hospital indemnity plans. The Company also develops, distributes and administers supplemental products, which include a range of additional insurance and non-insurance products, such as pharmacy benefit cards, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and life insurance policies that are purchased as supplements to IFP.

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Institutional Ownership by Quarter for Health Insurance Innovations (NASDAQ:HIIQ)

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