GSA Capital Partners LLP decreased its position in Health Insurance Innovations Inc (NASDAQ:HIIQ) by 55.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,981 shares of the financial services provider’s stock after selling 28,840 shares during the quarter. GSA Capital Partners LLP’s holdings in Health Insurance Innovations were worth $1,417,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alps Advisors Inc. raised its stake in Health Insurance Innovations by 53.1% during the second quarter. Alps Advisors Inc. now owns 23,822 shares of the financial services provider’s stock worth $594,000 after acquiring an additional 8,263 shares during the period. First Trust Advisors LP raised its stake in Health Insurance Innovations by 20.0% during the second quarter. First Trust Advisors LP now owns 13,905 shares of the financial services provider’s stock worth $450,000 after acquiring an additional 2,315 shares during the period. IndexIQ Advisors LLC raised its stake in Health Insurance Innovations by 10.7% during the second quarter. IndexIQ Advisors LLC now owns 75,688 shares of the financial services provider’s stock worth $2,449,000 after acquiring an additional 7,299 shares during the period. CIBC Private Wealth Group LLC acquired a new stake in Health Insurance Innovations during the second quarter worth about $1,928,000. Finally, Monarch Partners Asset Management LLC acquired a new stake in Health Insurance Innovations during the second quarter worth about $603,000. Institutional investors and hedge funds own 78.63% of the company’s stock.
Several equities research analysts have commented on HIIQ shares. TheStreet upgraded shares of Health Insurance Innovations from a “c” rating to a “b-” rating in a research note on Wednesday, October 31st. Cantor Fitzgerald restated a “buy” rating and issued a $65.00 price target on shares of Health Insurance Innovations in a research note on Friday, November 16th. Lake Street Capital raised their price target on shares of Health Insurance Innovations from $51.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, October 30th. Craig Hallum raised their price target on shares of Health Insurance Innovations from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, October 30th. Finally, BidaskClub lowered shares of Health Insurance Innovations from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 4th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.62.
Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings results on Monday, October 29th. The financial services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.59 by $0.02. Health Insurance Innovations had a net margin of 4.89% and a return on equity of 20.81%. The company had revenue of $74.00 million for the quarter, compared to analyst estimates of $73.39 million. During the same quarter last year, the business earned $0.46 earnings per share. Health Insurance Innovations’s revenue was up 16.4% compared to the same quarter last year. Equities research analysts forecast that Health Insurance Innovations Inc will post 1.93 EPS for the current fiscal year.
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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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