Health Insurance Innovations Inc (HIIQ) Stake Increased by Cowen Prime Services LLC

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Cowen Prime Services LLC raised its position in shares of Health Insurance Innovations Inc (NASDAQ:HIIQ) by 250.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,000 shares of the financial services provider’s stock after buying an additional 5,000 shares during the period. Cowen Prime Services LLC’s holdings in Health Insurance Innovations were worth $432,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. acquired a new stake in shares of Health Insurance Innovations during the first quarter worth approximately $143,000. Sawtooth Solutions LLC acquired a new stake in shares of Health Insurance Innovations during the third quarter worth approximately $211,000. Cim LLC acquired a new stake in shares of Health Insurance Innovations during the third quarter worth approximately $246,000. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Health Insurance Innovations during the second quarter worth approximately $259,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Health Insurance Innovations during the second quarter worth approximately $310,000. 87.32% of the stock is owned by institutional investors.

In other Health Insurance Innovations news, insider Sheldon Wang sold 10,000 shares of the firm’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 transaction, the insider now directly owns 38,675 shares of the company’s stock, valued at $1,432,908.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO of HealthPocket, Inc. division Bruce Telkamp sold 7,517 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $43.20, for a total transaction of $324,734.40. The disclosure for this sale can be found here. Insiders have sold 24,110 shares of company stock worth $980,909 over the last three months. 55.94% of the stock is owned by insiders.

Several analysts have recently weighed in on the stock. B. Riley raised their price objective on shares of Health Insurance Innovations from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, September 27th. BidaskClub lowered shares of Health Insurance Innovations from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $65.00 price objective on shares of Health Insurance Innovations in a report on Thursday, August 16th. ValuEngine raised shares of Health Insurance Innovations from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 11th. Finally, First Analysis raised shares of Health Insurance Innovations from an “outperform” rating to a “strong-buy” rating and set a $65.00 price objective for the company in a report on Monday. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $50.62.

HIIQ opened at $45.00 on Tuesday. Health Insurance Innovations Inc has a one year low of $19.40 and a one year high of $63.13. The company has a market cap of $719.15 million, a PE ratio of 37.50 and a beta of 0.54.

Health Insurance Innovations (NASDAQ:HIIQ) last released its quarterly earnings results on Monday, October 29th. The financial services provider reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Health Insurance Innovations had a net margin of 5.39% and a return on equity of 19.43%. The business had revenue of $74.00 million for the quarter, compared to analysts’ expectations of $73.39 million. During the same period in the prior year, the firm earned $0.46 earnings per share. Health Insurance Innovations’s revenue was up 16.4% compared to the same quarter last year. On average, analysts anticipate that Health Insurance Innovations Inc will post 1.97 EPS for the current fiscal year.

Health Insurance Innovations Profile

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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Institutional Ownership by Quarter for Health Insurance Innovations (NASDAQ:HIIQ)

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