Health Insurance Innovations Inc (HIIQ) Sees Large Decline in Short Interest
Health Insurance Innovations Inc (NASDAQ:HIIQ) saw a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 4,354,880 shares, a drop of 6.7% from the November 15th total of 4,669,376 shares. Currently, 38.9% of the shares of the company are sold short. Based on an average daily volume of 333,808 shares, the short-interest ratio is presently 13.0 days.
Health Insurance Innovations (NASDAQ:HIIQ) traded down $0.65 on Monday, reaching $26.90. 1,023,500 shares of the company traded hands, compared to its average volume of 625,112. The company has a market cap of $444.95, a P/E ratio of 18.30 and a beta of 0.65. Health Insurance Innovations has a 52 week low of $12.65 and a 52 week 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 the Thomson Reuters’ consensus estimate of $0.35 by $0.11. The company 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%. Health Insurance Innovations’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same period last year, the firm earned $0.33 EPS. equities research analysts predict that Health Insurance Innovations will post 1.39 EPS for the current year.
Several equities research analysts have recently issued reports on HIIQ shares. Cantor Fitzgerald restated a “buy” rating and set a $38.00 price target on shares of Health Insurance Innovations in a research note on Friday, September 1st. ValuEngine upgraded shares of Health Insurance Innovations from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Canaccord Genuity reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Health Insurance Innovations in a report on Friday, September 1st. Northland Securities reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Health Insurance Innovations in a report on Tuesday, October 17th. Finally, BidaskClub downgraded shares of Health Insurance Innovations from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $30.86.
In related news, Director Robert S. Murley purchased 5,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was bought at an average price of $22.50 per share, for a total transaction of $112,500.00. Following the purchase, the director now directly owns 39,734 shares in the company, valued at approximately $894,015. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 30.00% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Health Insurance Innovations by 92.2% in the 1st quarter. Vanguard Group Inc. now owns 406,293 shares of the financial services provider’s stock valued at $6,500,000 after purchasing an additional 194,907 shares during the period. Geode Capital Management LLC boosted its holdings in Health Insurance Innovations by 57.0% in the 1st quarter. Geode Capital Management LLC now owns 62,992 shares of the financial services provider’s stock valued at $1,007,000 after purchasing an additional 22,860 shares during the period. Morgan Stanley boosted its holdings in Health Insurance Innovations by 240.2% in the 1st quarter. Morgan Stanley now owns 70,397 shares of the financial services provider’s stock valued at $1,127,000 after purchasing an additional 49,703 shares during the period. Schwab Charles Investment Management Inc. bought a new position in Health Insurance Innovations in the 2nd quarter valued at $440,000. Finally, Rhumbline Advisers bought a new position in Health Insurance Innovations in the 2nd quarter valued at $277,000. 68.11% of the stock is owned by institutional investors.
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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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