Shares of Health Insurance Innovations Inc. (NASDAQ:HIIQ) dropped 2.9% during mid-day trading on Wednesday . The company traded as low as $5.26 and last traded at $5.29, with a volume of 61,857 shares changing hands. The stock had previously closed at $5.45.

HIIQ has been the topic of a number of recent research reports. TheStreet raised Health Insurance Innovations from a “sell” rating to a “hold” rating in a research report on Monday, May 23rd. Zacks Investment Research cut Health Insurance Innovations from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. Raymond James Financial Inc. cut Health Insurance Innovations from a “strong-buy” rating to a “market perform” rating in a report on Thursday, June 9th. Finally, Northland Securities initiated coverage on Health Insurance Innovations in a report on Tuesday, June 7th. They set an “outperform” rating for the company.

The firm has a market capitalization of $40.44 million and a price-to-earnings ratio of 10.84. The company has a 50-day moving average price of $4.38 and a 200-day moving average price of $5.47.

Health Insurance Innovations (NASDAQ:HIIQ) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.21. The firm had revenue of $44.50 million for the quarter, compared to the consensus estimate of $37.11 million. On average, equities analysts forecast that Health Insurance Innovations Inc. will post $0.63 EPS for the current fiscal year.

In other news, CEO Patrick Mcnamee purchased 15,000 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were acquired at an average price of $4.52 per share, with a total value of $67,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Cannell Capital Llc purchased 11,144 shares of the business’s stock in a transaction on Wednesday, June 29th. The shares were purchased at an average cost of $3.94 per share, for a total transaction of $43,907.36. The disclosure for this purchase can be found here.

Health Insurance Innovations, Inc is a developer, distributor and virtual administrator of individual and family health insurance plans and supplemental products. The Company sells individual and family insurance plans (IFP) that include short-term medical (STM) insurance plans and hospital indemnity plans.

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