Health Insurance Innovations Inc. (NASDAQ:HIIQ) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The firm currently has a $7.00 target price on the stock. Zacks Investment Research’s price target suggests a potential downside of 37.78% from the stock’s current price.
According to Zacks, “Health Insurance Innovations, Inc. operates as a developer and administrator of web-based individual health insurance plans and ancillary products. Its product portfolio consists of short-term medical plans, accident, sickness & hospital medical plans, ancillary insurance, life insurance, lifestyle and discount services. Health Insurance Innovations, Inc. is based in Tampa, Florida. “
Separately, Lake Street Capital initiated coverage on shares of Health Insurance Innovations in a report on Thursday, September 15th. They set a “buy” rating and a $9.00 target price on the stock. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $8.00.
Shares of Health Insurance Innovations (NASDAQ:HIIQ) remained flat at $11.25 during trading on Tuesday. The stock had a trading volume of 208,429 shares. The firm has a 50 day moving average of $6.91 and a 200 day moving average of $5.57. Health Insurance Innovations has a 52-week low of $3.72 and a 52-week high of $11.65. The firm has a market cap of $87.12 million, a P/E ratio of 17.77 and a beta of -0.32.
In other Health Insurance Innovations news, CEO Bruce Telkamp sold 59,000 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $10.15, for a total value of $598,850.00. Following the transaction, the chief executive officer now owns 183,281 shares in the company, valued at approximately $1,860,302.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael D. Hershberger sold 39,500 shares of the business’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $10.18, for a total transaction of $402,110.00. Following the completion of the transaction, the chief financial officer now owns 160,369 shares in the company, valued at approximately $1,632,556.42. The disclosure for this sale can be found here. Corporate insiders own 52.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. KCG Holdings Inc. purchased a new position in shares of Health Insurance Innovations during the second quarter worth approximately $107,000. Royal Bank of Canada purchased a new position in shares of Health Insurance Innovations during the second quarter worth approximately $127,000. Morgan Stanley raised its position in shares of Health Insurance Innovations by 2,268.1% in the third quarter. Morgan Stanley now owns 49,730 shares of the company’s stock worth $261,000 after buying an additional 47,630 shares in the last quarter. Prescott Group Capital Management L.L.C. purchased a new position in shares of Health Insurance Innovations during the second quarter worth approximately $219,000. Finally, Oxford Asset Management purchased a new position in shares of Health Insurance Innovations during the second quarter worth approximately $270,000. Hedge funds and other institutional investors own 28.05% 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.