ValuEngine upgraded shares of Health Insurance Innovations (NASDAQ:HIIQ) from a hold rating to a buy rating in a research note published on Friday.

Other research analysts have also issued reports about the stock. BidaskClub lowered shares of Health Insurance Innovations from a strong-buy rating to a buy rating in a research note on Saturday, December 2nd. Canaccord Genuity set a $39.00 price objective on shares of Health Insurance Innovations and gave the stock a buy rating in a research note on Sunday, November 12th. Cantor Fitzgerald restated a buy rating and set a $38.00 price objective on shares of Health Insurance Innovations in a research note on Wednesday, November 1st. Northland Securities reiterated a buy rating and issued a $37.00 price target on shares of Health Insurance Innovations in a research note on Tuesday, October 17th. Finally, Zacks Investment Research upgraded shares of Health Insurance Innovations from a hold rating to a buy rating and set a $31.00 price target on the stock in a research note on Thursday, January 25th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $33.83.

Health Insurance Innovations (NASDAQ:HIIQ) opened at $24.20 on Friday. The firm has a market cap of $400.29, a PE ratio of 20.34 and a beta of 0.62. Health Insurance Innovations has a 52 week low of $12.65 and a 52 week high of $37.38.

Health Insurance Innovations declared that its Board of Directors has approved a share buyback plan on Monday, October 16th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

In related news, Director Robert S. Murley purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were acquired at an average price of $22.50 per share, for a total transaction of $112,500.00. Following the purchase, the director now owns 39,734 shares in the company, valued at $894,015. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sheldon Wang sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $26.30, for a total transaction of $263,000.00. Following the completion of the transaction, the insider now owns 169,001 shares in the company, valued at approximately $4,444,726.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,464 shares of company stock worth $1,605,100. 30.00% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Argent Capital Management LLC boosted its holdings in Health Insurance Innovations by 34.5% in the 2nd quarter. Argent Capital Management LLC now owns 175,975 shares of the financial services provider’s stock valued at $4,135,000 after purchasing an additional 45,100 shares during the period. Comerica Bank bought a new stake in Health Insurance Innovations in the 3rd quarter valued at about $473,000. Emerald Mutual Fund Advisers Trust boosted its holdings in Health Insurance Innovations by 3.1% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 462,963 shares of the financial services provider’s stock valued at $6,713,000 after purchasing an additional 14,008 shares during the period. Trellus Management Company LLC bought a new stake in Health Insurance Innovations in the 3rd quarter valued at about $326,000. Finally, Capital World Investors bought a new stake in Health Insurance Innovations in the 2nd quarter valued at about $11,680,000. Institutional investors and hedge funds own 68.42% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Health Insurance Innovations (NASDAQ:HIIQ)

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