Health Insurance Innovations (HIIQ) Stock Rating Lowered by BidaskClub
Health Insurance Innovations (NASDAQ:HIIQ) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Thursday.
A number of other equities analysts have also commented on HIIQ. ValuEngine lowered Health Insurance Innovations from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. B. Riley lifted their price objective on Health Insurance Innovations from $45.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Canaccord Genuity reaffirmed a “buy” rating and issued a $62.00 price objective (up from $55.00) on shares of Health Insurance Innovations in a research note on Thursday, August 2nd. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Health Insurance Innovations in a research note on Thursday, August 16th. Finally, Zacks Investment Research raised Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Tuesday, July 31st. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Health Insurance Innovations presently has a consensus rating of “Buy” and an average price target of $47.51.
Health Insurance Innovations stock opened at $47.42 on Thursday. The company has a market capitalization of $1.03 billion, a P/E ratio of 39.52 and a beta of 0.54. Health Insurance Innovations has a one year low of $18.25 and a one year high of $63.13.
In other Health Insurance Innovations news, CEO of HealthPocket, Inc. division Bruce Telkamp sold 7,517 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $43.20, for a total value of $324,734.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sheldon Wang sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $37.05, for a total value of $370,500.00. Following the completion of the transaction, the insider now directly owns 38,675 shares in the company, valued at $1,432,908.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,110 shares of company stock worth $980,909. Insiders own 55.94% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC lifted its stake in Health Insurance Innovations by 6.1% in the second quarter. Renaissance Technologies LLC now owns 1,012,300 shares of the financial services provider’s stock valued at $32,748,000 after buying an additional 57,800 shares during the period. Cannell Capital LLC increased its holdings in shares of Health Insurance Innovations by 2.1% during the second quarter. Cannell Capital LLC now owns 751,793 shares of the financial services provider’s stock valued at $24,321,000 after acquiring an additional 15,700 shares in the last quarter. Ashford Capital Management Inc. increased its holdings in shares of Health Insurance Innovations by 14.5% during the second quarter. Ashford Capital Management Inc. now owns 504,525 shares of the financial services provider’s stock valued at $16,321,000 after acquiring an additional 63,943 shares in the last quarter. Harvest Capital Strategies LLC increased its holdings in shares of Health Insurance Innovations by 9.0% during the first quarter. Harvest Capital Strategies LLC now owns 350,000 shares of the financial services provider’s stock valued at $10,115,000 after acquiring an additional 28,850 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Health Insurance Innovations during the second quarter valued at approximately $7,759,000. 86.89% of the stock is currently owned by hedge funds and other institutional investors.
About Health Insurance Innovations
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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