Janney Montgomery Scott LLC purchased a new stake in shares of Health Insurance Innovations Inc (NASDAQ:HIIQ) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 20,822 shares of the financial services provider’s stock, valued at approximately $519,000.
Other large investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its stake in shares of Health Insurance Innovations by 9.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 17,450 shares of the financial services provider’s stock worth $452,000 after purchasing an additional 1,500 shares during the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Health Insurance Innovations in the third quarter worth about $27,000. FNY Investment Advisers LLC raised its stake in shares of Health Insurance Innovations by 685.7% in the third quarter. FNY Investment Advisers LLC now owns 2,750 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 2,400 shares during the last quarter. White Pine Capital LLC raised its position in Health Insurance Innovations by 12.9% during the second quarter. White Pine Capital LLC now owns 44,120 shares of the financial services provider’s stock valued at $1,144,000 after acquiring an additional 5,055 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in Health Insurance Innovations during the second quarter valued at approximately $12,981,000. Institutional investors own 92.81% of the company’s stock.
Shares of HIIQ stock opened at $24.64 on Thursday. The stock has a 50 day moving average of $25.42 and a 200 day moving average of $23.40. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.45. The stock has a market cap of $353.65 million, a P/E ratio of 11.93 and a beta of 1.43. Health Insurance Innovations Inc has a twelve month low of $16.25 and a twelve month high of $46.60.
HIIQ has been the subject of several recent research reports. Zacks Investment Research upgraded Health Insurance Innovations from a “sell” rating to a “hold” rating in a research report on Wednesday. BidaskClub cut Health Insurance Innovations from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Raymond James reduced their price target on Health Insurance Innovations from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. ValuEngine cut Health Insurance Innovations from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Finally, Craig Hallum reduced their price target on Health Insurance Innovations from $65.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. Health Insurance Innovations presently has an average rating of “Hold” and an average target price of $49.14.
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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