Health Insurance Innovations Inc (NASDAQ:HIIQ) shares fell 0% during mid-day trading on Monday following insider selling activity. The stock traded as low as $24.75 and last traded at $25.18. 536,066 shares were traded during trading, an increase of 16% from the average session volume of 462,613 shares. The stock had previously closed at $25.18.

Specifically, Director Robert S. Murley bought 5,000 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were acquired at an average cost of $22.50 per share, with a total value of $112,500.00. Following the completion of the transaction, the director now owns 39,734 shares in the company, valued at $894,015. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sheldon Wang sold 10,000 shares of Health Insurance Innovations stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $26.30, for a total value of $263,000.00. Following the sale, the insider now directly owns 169,001 shares in the company, valued at $4,444,726.30. The disclosure for this sale can be found here. Insiders sold 57,464 shares of company stock worth $1,463,600 over the last three months. 30.00% of the stock is currently owned by corporate insiders.

A number of analysts have recently issued reports on the company. ValuEngine lowered Health Insurance Innovations from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Canaccord Genuity reaffirmed a “buy” rating and set a $39.00 target price on shares of Health Insurance Innovations in a research report on Friday, December 22nd. BidaskClub lowered Health Insurance Innovations from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Northland Securities reaffirmed a “buy” rating and set a $37.00 target price on shares of Health Insurance Innovations in a research report on Tuesday, October 17th. Finally, TheStreet lowered Health Insurance Innovations from a “b-” rating to a “c” rating in a research report on Thursday, September 28th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $32.67.

The firm has a market cap of $416.46, a price-to-earnings ratio of 20.63 and a beta of 0.65.

Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.11. The firm had revenue of $63.34 million during the quarter, compared to analyst estimates of $59.30 million. Health Insurance Innovations had a return on equity of 21.32% and a net margin of 5.98%. Health Insurance Innovations’s quarterly revenue was up 37.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 earnings per share. equities analysts predict that Health Insurance Innovations Inc will post 1.39 EPS for the current fiscal year.

Health Insurance Innovations announced that its Board of Directors has authorized a stock buyback plan on Monday, October 16th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

A number of institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its holdings in Health Insurance Innovations by 68.3% in the second quarter. Renaissance Technologies LLC now owns 1,010,400 shares of the financial services provider’s stock valued at $23,744,000 after buying an additional 410,197 shares during the last quarter. Lyon Street Capital LLC boosted its stake in Health Insurance Innovations by 49.4% in the third quarter. Lyon Street Capital LLC now owns 936,747 shares of the financial services provider’s stock valued at $13,583,000 after acquiring an additional 309,668 shares during the period. Capital World Investors acquired a new position in Health Insurance Innovations in the second quarter valued at approximately $11,680,000. Emerald Mutual Fund Advisers Trust boosted its stake in Health Insurance Innovations by 3.1% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 462,963 shares of the financial services provider’s stock valued at $6,713,000 after acquiring an additional 14,008 shares during the period. Finally, B. Riley Financial Inc. boosted its stake in Health Insurance Innovations by 62.0% in the third quarter. B. Riley Financial Inc. now owns 405,000 shares of the financial services provider’s stock valued at $5,873,000 after acquiring an additional 155,000 shares during the period. 68.00% of the stock is owned by hedge funds and other institutional investors.

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About Health Insurance Innovations

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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