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.

Health Insurance Innovations declared that its board has approved a stock buyback 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 purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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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