Goldman Sachs Group Inc. boosted its stake in Health Insurance Innovations, Inc. (NASDAQ:HIIQ) by 96.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 77,001 shares of the financial services provider’s stock after buying an additional 37,711 shares during the period. Goldman Sachs Group Inc.’s holdings in Health Insurance Innovations were worth $1,232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HIIQ. Bank of New York Mellon Corp boosted its position in shares of Health Insurance Innovations by 11.5% in 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 buying an additional 1,266 shares during the period. Acrospire Investment Management LLC boosted its position in shares of Health Insurance Innovations by 36.8% in the first quarter. Acrospire Investment Management LLC now owns 11,505 shares of the financial services provider’s stock valued at $184,000 after buying an additional 3,094 shares during the period. Bank of Montreal Can purchased a new position in shares of Health Insurance Innovations during the first quarter valued at about $118,000. Segantii Capital Management Ltd purchased a new position in shares of Health Insurance Innovations during the first quarter valued at about $229,000. Finally, SG Americas Securities LLC bought a new stake in shares of Health Insurance Innovations during the first quarter valued at about $252,000. 72.13% of the stock is currently owned by institutional investors.

Shares of Health Insurance Innovations, Inc. (NASDAQ:HIIQ) traded down 2.74% during mid-day trading on Thursday, reaching $30.15. The company’s stock had a trading volume of 115,715 shares. The stock has a 50 day moving average of $26.54 and a 200-day moving average of $20.53. Health Insurance Innovations, Inc. has a one year low of $4.00 and a one year high of $32.95. The stock has a market cap of $375.94 million, a P/E ratio of 24.39 and a beta of 0.68.

Health Insurance Innovations (NASDAQ:HIIQ) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.13. The firm had revenue of $61.80 million during the quarter, compared to the consensus estimate of $53.69 million. Health Insurance Innovations had a net margin of 5.56% and a return on equity of 22.89%. The company’s revenue was up 38.9% on a year-over-year basis. On average, equities research analysts expect that Health Insurance Innovations, Inc. will post $1.53 EPS for the current fiscal year.

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Several brokerages have issued reports on HIIQ. UBS AG raised Health Insurance Innovations to an “outperform” rating in a research report on Thursday, May 4th. Zacks Investment Research cut Health Insurance Innovations from a “buy” rating to a “hold” rating in a research report on Monday, June 19th. Craig Hallum reaffirmed a “buy” rating and set a $38.00 target price (up previously from $28.00) on shares of Health Insurance Innovations in a research report on Thursday, August 3rd. Raymond James Financial, Inc. raised Health Insurance Innovations from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research report on Thursday, May 4th. Finally, TheStreet raised Health Insurance Innovations from a “c” rating to a “b-” rating in a research report on Monday, May 22nd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Health Insurance Innovations currently has an average rating of “Buy” and an average price target of $30.83.

In related news, insider Sheldon Wang sold 12,417 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $21.18, for a total transaction of $262,992.06. Following the completion of the transaction, the insider now owns 226,251 shares in the company, valued at $4,791,996.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Bruce Telkamp sold 11,501 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $31.45, for a total transaction of $361,706.45. Following the transaction, the chief executive officer now owns 17,500 shares of the company’s stock, valued at approximately $550,375. The disclosure for this sale can be found here. In the last quarter, insiders have sold 229,305 shares of company stock valued at $5,850,427. Insiders own 30.00% of the company’s stock.

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

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