Health Insurance Innovations, Inc. (HIIQ) Posts Earnings Results, Beats Estimates By $0.13 EPS

Health Insurance Innovations, Inc. (NASDAQ:HIIQ) issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.13, Briefing.com reports. The company had revenue of $61.80 million during the quarter, compared to the consensus estimate of $53.69 million. Health Insurance Innovations had a return on equity of 22.89% and a net margin of 5.56%. Health Insurance Innovations’s revenue for the quarter was up 38.9% compared to the same quarter last year.

Health Insurance Innovations (NASDAQ:HIIQ) traded up 1.45% during midday trading on Friday, reaching $31.40. 330,401 shares of the company traded hands. The firm’s 50 day moving average price is $26.95 and its 200 day moving average price is $20.70. Health Insurance Innovations has a 12 month low of $4.00 and a 12 month high of $32.95. The firm has a market capitalization of $391.53 million, a price-to-earnings ratio of 25.40 and a beta of 0.68.

In other Health Insurance Innovations news, insider Sheldon Wang sold 5,149 shares of Health Insurance Innovations stock in a transaction on Monday, June 12th. The shares were sold at an average price of $21.60, for a total transaction of $111,218.40. Following the transaction, the insider now directly owns 228,751 shares of the company’s stock, valued at approximately $4,941,021.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bruce Telkamp sold 11,501 shares of Health Insurance Innovations stock in a transaction on Monday, August 7th. The stock was sold at an average price of $31.45, for a total transaction of $361,706.45. Following the transaction, the chief executive officer now directly owns 17,500 shares in the company, valued at $550,375. The disclosure for this sale can be found here. Insiders have sold a total of 198,143 shares of company stock worth $5,176,170 over the last ninety days. Insiders own 30.00% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new position in shares of Health Insurance Innovations during the first quarter worth $648,000. Dialectic Capital Management LP increased its position in shares of Health Insurance Innovations by 39.7% in the first quarter. Dialectic Capital Management LP now owns 496,300 shares of the financial services provider’s stock worth $7,941,000 after buying an additional 141,083 shares during the period. Menta Capital LLC bought a new position in shares of Health Insurance Innovations during the first quarter worth $909,000. Renaissance Technologies LLC increased its position in shares of Health Insurance Innovations by 1,031.7% in the fourth quarter. Renaissance Technologies LLC now owns 213,900 shares of the financial services provider’s stock worth $3,818,000 after buying an additional 195,000 shares during the period. Finally, Emerald Mutual Fund Advisers Trust bought a new position in shares of Health Insurance Innovations during the first quarter worth $6,383,000. 72.13% of the stock is currently owned by institutional investors.

HIIQ has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Health Insurance Innovations from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, June 21st. Craig Hallum started coverage on shares of Health Insurance Innovations in a research report on Monday, June 12th. They issued a “buy” rating and a $28.00 price objective for the company. Canaccord Genuity reissued a “buy” rating and issued a $39.00 price objective (up from $30.00) on shares of Health Insurance Innovations in a research report on Friday, August 4th. Finally, Raymond James Financial, Inc. raised shares of Health Insurance Innovations from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research report on Thursday, May 4th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Health Insurance Innovations has an average rating of “Buy” and an average price target of $30.83.

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About Health Insurance Innovations

Health Insurance Innovations, Inc is a developer, distributor and cloud-based administrator of individual and family health insurance plans (IFPs) and supplemental products, which include short-term medical (STM) insurance plans, and guaranteed-issue and underwritten hospital indemnity plans. The Company also develops, distributes and administers supplemental products, which include a range of additional insurance and non-insurance products, such as pharmacy benefit cards, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and life insurance policies that are purchased as supplements to IFP.

Earnings History for Health Insurance Innovations (NASDAQ:HIIQ)

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