Catalyst Capital Advisors LLC bought a new position in shares of Health Insurance Innovations Inc (NASDAQ:HIIQ) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 23,100 shares of the financial services provider’s stock, valued at approximately $620,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Advisory Inc. lifted its holdings in Health Insurance Innovations by 102.4% during the 4th quarter. Brown Advisory Inc. now owns 21,620 shares of the financial services provider’s stock worth $578,000 after buying an additional 10,938 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in Health Insurance Innovations during the 4th quarter worth about $1,413,000. Wesbanco Bank Inc. lifted its holdings in Health Insurance Innovations by 56.6% during the 4th quarter. Wesbanco Bank Inc. now owns 22,116 shares of the financial services provider’s stock worth $591,000 after buying an additional 7,989 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Health Insurance Innovations by 90.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 84,214 shares of the financial services provider’s stock worth $5,192,000 after buying an additional 39,967 shares during the last quarter. Finally, Vanguard Group Inc lifted its holdings in Health Insurance Innovations by 9.3% during the 3rd quarter. Vanguard Group Inc now owns 545,693 shares of the financial services provider’s stock worth $33,642,000 after buying an additional 46,286 shares during the last quarter. 96.77% of the stock is owned by institutional investors.
In other news, Director John Fichthorn bought 93,742 shares of Health Insurance Innovations stock in a transaction dated Wednesday, March 20th. The stock was acquired at an average cost of $29.28 per share, with a total value of $2,744,765.76. Following the acquisition, the director now owns 72,869 shares of the company’s stock, valued at $2,133,604.32. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 47.88% of the stock is currently owned by insiders.
Health Insurance Innovations (NASDAQ:HIIQ) last posted its earnings results on Monday, May 6th. The financial services provider reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.08). Health Insurance Innovations had a net margin of 3.48% and a return on equity of 28.56%. The firm had revenue of $87.33 million during the quarter, compared to analysts’ expectations of $83.58 million. During the same period in the previous year, the firm posted $0.70 earnings per share. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, analysts anticipate that Health Insurance Innovations Inc will post 2.81 earnings per share for the current fiscal year.
A number of analysts have issued reports on the company. BidaskClub raised Health Insurance Innovations from a “strong sell” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research downgraded Health Insurance Innovations from a “strong-buy” rating to a “hold” rating in a report on Tuesday. TheStreet downgraded Health Insurance Innovations from a “b-” rating to a “c” rating in a report on Tuesday, May 7th. Lake Street Capital decreased their price target on Health Insurance Innovations from $80.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Finally, Northland Securities reaffirmed a “buy” rating and set a $60.00 price target on shares of Health Insurance Innovations in a report on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $56.78.
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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 provide 3 months to 12 months of health insurance coverage with various deductible and copay levels; health benefit insurance plans, which offer fixed cash benefits and additional benefits for procedures and services; and supplemental insurance products, including life insurance policies, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and pharmacy benefit cards.
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