UBS Group Upgrades Health Insurance Innovations (HIIQ) to “Outperform”
Health Insurance Innovations (NASDAQ:HIIQ) was upgraded by equities research analysts at UBS Group from a “neutral” rating to an “outperform” rating in a report issued on Thursday, The Fly reports. The firm currently has a $38.00 price objective on the financial services provider’s stock. UBS Group’s target price would indicate a potential upside of 17.10% from the stock’s previous close.
A number of other brokerages have also recently commented on HIIQ. ValuEngine cut Health Insurance Innovations from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Zacks Investment Research raised Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Thursday, January 25th. BidaskClub lowered Health Insurance Innovations from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $38.00 target price on shares of Health Insurance Innovations in a research report on Wednesday, November 1st. Finally, B. Riley assumed coverage on Health Insurance Innovations in a research report on Tuesday, February 13th. They set a “buy” rating and a $38.00 target price for the company. Twelve analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $42.62.
Health Insurance Innovations (NASDAQ HIIQ) opened at $32.45 on Thursday. Health Insurance Innovations has a 12 month low of $12.65 and a 12 month high of $37.38. The company has a market capitalization of $538.41, a price-to-earnings ratio of 21.21 and a beta of 0.42.
In related news, insider Sheldon Wang sold 10,000 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $26.30, for a total transaction of $263,000.00. Following the completion of the transaction, the insider now directly owns 169,001 shares of the company’s stock, valued at approximately $4,444,726.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert S. Murley bought 5,000 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were bought at an average cost of $22.50 per share, with a total value of $112,500.00. Following the completion of the transaction, the director now owns 39,734 shares in the company, valued at $894,015. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 97,464 shares of company stock valued at $2,678,800. 30.00% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new position in shares of Health Insurance Innovations in the 3rd quarter worth about $142,000. MetLife Investment Advisors LLC bought a new position in shares of Health Insurance Innovations in the 4th quarter worth about $144,000. Nationwide Fund Advisors bought a new position in shares of Health Insurance Innovations in the 2nd quarter worth about $149,000. Chicago Equity Partners LLC bought a new position in shares of Health Insurance Innovations in the 3rd quarter worth about $158,000. Finally, First Trust Advisors LP bought a new position in shares of Health Insurance Innovations in the 3rd quarter worth about $171,000. 64.05% of the stock is owned by hedge funds and other institutional investors.
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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