Health Insurance Innovations, Inc. (NASDAQ:HIIQ)’s share price traded up 5.6% during mid-day trading on Friday . The company traded as high as $22.60 and last traded at $22.50. 760,670 shares were traded during trading, a decline of 29% from the average session volume of 1,070,506 shares. The stock had previously closed at $21.30.

A number of equities analysts have issued reports on the company. ValuEngine lowered Health Insurance Innovations from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Zacks Investment Research upgraded Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Friday, August 4th. Canaccord Genuity reiterated a “buy” rating and set a $39.00 price objective (up previously from $30.00) on shares of Health Insurance Innovations in a research report on Friday, August 4th. Craig Hallum reiterated a “buy” rating and set a $38.00 price objective (up previously from $28.00) on shares of Health Insurance Innovations in a research report on Thursday, August 3rd. Finally, Northland Securities reiterated a “buy” rating and set a $37.00 price objective on shares of Health Insurance Innovations in a research report on Tuesday, October 17th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Health Insurance Innovations currently has an average rating of “Buy” and a consensus target price of $30.86.

The company has a market cap of $369.94, a PE ratio of 15.31 and a beta of 0.63.

Health Insurance Innovations (NASDAQ:HIIQ) last posted its earnings results 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 firm had revenue of $63.34 million for 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 22.26%. The business’s quarterly revenue was up 37.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. analysts expect that Health Insurance Innovations, Inc. will post 1.65 earnings per share for the current fiscal year.

Health Insurance Innovations announced that its Board of Directors has initiated a stock buyback plan on Monday, October 16th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

In other news, CEO of HealthPocket Bruce Telkamp sold 11,501 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $31.45, for a total value of $361,706.45. Following the sale, the insider now directly owns 17,500 shares of the company’s stock, valued at $550,375. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michael D. Hershberger sold 17,769 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $31.42, for a total value of $558,301.98. Following the completion of the sale, the chief financial officer now directly owns 94,569 shares in the company, valued at $2,971,357.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,077 shares of company stock worth $1,945,858. 30.00% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. bought a new stake in shares of Health Insurance Innovations in the third quarter valued at about $345,000. USA Financial Portformulas Corp bought a new stake in shares of Health Insurance Innovations in the third quarter valued at about $226,000. Chicago Equity Partners LLC bought a new stake in shares of Health Insurance Innovations in the third quarter valued at about $158,000. Emerald Mutual Fund Advisers Trust lifted its stake in shares of Health Insurance Innovations by 3.1% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 462,963 shares of the financial services provider’s stock valued at $6,713,000 after buying an additional 14,008 shares during the period. Finally, First Trust Advisors LP bought a new stake in shares of Health Insurance Innovations in the third quarter valued at about $171,000. Institutional investors and hedge funds own 64.18% of the company’s stock.

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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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