Health Insurance Innovations Inc (NASDAQ:HIIQ) shares traded down 8.6% on Wednesday . The company traded as low as $49.01 and last traded at $50.03. 1,045,384 shares traded hands during mid-day trading, an increase of 169% from the average session volume of 388,525 shares. The stock had previously closed at $54.73.

A number of research analysts recently weighed in on the company. B. Riley raised their price objective on Health Insurance Innovations from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, September 27th. BidaskClub downgraded Health Insurance Innovations from a “buy” rating to a “hold” rating in a research note on Thursday. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $65.00 target price on shares of Health Insurance Innovations in a report on Thursday, August 16th. ValuEngine raised Health Insurance Innovations from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 11th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $62.00 target price (up previously from $55.00) on shares of Health Insurance Innovations in a report on Thursday, August 2nd. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $47.51.

The firm has a market cap of $1.03 billion, a PE ratio of 41.69 and a beta of 0.54.

Health Insurance Innovations (NASDAQ:HIIQ) last released its earnings results on Wednesday, August 1st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. The firm had revenue of $71.70 million for the quarter, compared to analyst estimates of $70.51 million. Health Insurance Innovations had a return on equity of 19.43% and a net margin of 5.39%. The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS. Research analysts expect that Health Insurance Innovations Inc will post 2.06 EPS for the current year.

In other news, CEO of HealthPocket, Inc. division Bruce Telkamp sold 7,517 shares of Health Insurance Innovations stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $43.20, for a total transaction of $324,734.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sheldon Wang sold 6,593 shares of Health Insurance Innovations stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $43.33, for a total value of $285,674.69. The disclosure for this sale can be found here. Insiders sold a total of 24,110 shares of company stock worth $980,909 in the last ninety days. Insiders own 55.94% of the company’s stock.

Several large investors have recently made changes to their positions in HIIQ. Quantbot Technologies LP acquired a new stake in shares of Health Insurance Innovations during the 1st quarter worth approximately $139,000. Ladenburg Thalmann Financial Services Inc. acquired a new stake in shares of Health Insurance Innovations during the 1st quarter worth approximately $143,000. Bayesian Capital Management LP acquired a new stake in shares of Health Insurance Innovations during the 1st quarter worth approximately $217,000. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Health Insurance Innovations during the 2nd quarter worth approximately $259,000. Finally, Hancock Holding Co. acquired a new stake in shares of Health Insurance Innovations during the 1st quarter worth approximately $305,000. 86.89% of the stock is currently owned by institutional investors.

Health Insurance Innovations Company Profile (NASDAQ:HIIQ)

Health Insurance Innovations, Inc operates as a cloud-based technology platform and distributor of individual and family health insurance plans, and supplemental products in the United States. It offers short-term medical plans that provides three months of health insurance coverage with various deductible and copay levels; health benefit insurance plans, which offer daily cash benefit for hospital treatment and doctor office visits, as well as accidental injury and death or dismemberment benefits; and supplemental insurance products, including pharmacy benefit cards, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and life insurance policies.

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