Zacks: Health Insurance Innovations Inc. (NASDAQ:HIIQ) Given $8.50 Average Target Price by Brokerages
Shares of Health Insurance Innovations Inc. (NASDAQ:HIIQ) have received an average broker rating score of 1.67 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and two have assigned a strong buy rating to the company. Health Insurance Innovations’ rating score has improved by 16.5% in the last 90 days as a result of various analysts’ ratings changes.
Brokers have set a 1 year consensus price objective of $8.50 for the company and are expecting that the company will post $0.11 earnings per share for the current quarter, according to Zacks. Zacks has also given Health Insurance Innovations an industry rank of 29 out of 265 based on the ratings given to its competitors.
Several brokerages have commented on HIIQ. Zacks Investment Research cut shares of Health Insurance Innovations from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Lake Street Capital began coverage on shares of Health Insurance Innovations in a research report on Thursday, September 15th. They issued a “buy” rating and a $9.00 price target on the stock.
Shares of Health Insurance Innovations (NASDAQ:HIIQ) opened at 5.65 on Thursday. The company has a 50 day moving average of $5.35 and a 200 day moving average of $5.35. The firm has a market capitalization of $44.02 million, a PE ratio of 11.80 and a beta of -0.27. Health Insurance Innovations has a 52-week low of $3.72 and a 52-week high of $8.54.
Health Insurance Innovations (NASDAQ:HIIQ) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.06 by $0.21. Health Insurance Innovations had a net margin of 2.48% and a return on equity of 11.78%. The firm had revenue of $44.50 million for the quarter, compared to analysts’ expectations of $37.11 million. On average, analysts anticipate that Health Insurance Innovations will post $0.64 earnings per share for the current fiscal year.
In related news, CEO Patrick Mcnamee acquired 15,000 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were purchased at an average price of $4.52 per share, for a total transaction of $67,800.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 52.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. KCG Holdings Inc. bought a new stake in Health Insurance Innovations during the second quarter valued at about $107,000. Royal Bank of Canada bought a new stake in Health Insurance Innovations during the second quarter valued at about $127,000. Prescott Group Capital Management L.L.C. bought a new stake in Health Insurance Innovations during the second quarter valued at about $219,000. Oxford Asset Management bought a new stake in Health Insurance Innovations during the second quarter valued at about $270,000. Finally, Bridgeway Capital Management Inc. increased its stake in Health Insurance Innovations by 92.4% in the second quarter. Bridgeway Capital Management Inc. now owns 200,900 shares of the company’s stock valued at $790,000 after buying an additional 96,484 shares during the last quarter. Hedge funds and other institutional investors own 27.82% of the company’s stock.
About Health Insurance Innovations
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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