Zacks Investment Research downgraded shares of Health Insurance Innovations (NASDAQ:HIIQ) from a buy rating to a hold rating in a report issued on Tuesday.

According to Zacks, “Health Insurance Innovations, Inc. operates as a developer and administrator of web-based individual health insurance plans and ancillary products. Its product portfolio consists of short-term medical plans, accident, sickness & hospital medical plans, ancillary insurance, life insurance, lifestyle and discount services. Health Insurance Innovations, Inc. is based in Tampa, Florida. “

Other equities research analysts also recently issued research reports about the company. BidaskClub upgraded Health Insurance Innovations from a hold rating to a buy rating in a report on Tuesday, January 23rd. Northland Securities reiterated a buy rating and issued a $37.00 price objective on shares of Health Insurance Innovations in a report on Tuesday, October 17th. Canaccord Genuity reiterated a buy rating and issued a $39.00 price objective on shares of Health Insurance Innovations in a report on Monday, October 16th. ValuEngine upgraded Health Insurance Innovations from a hold rating to a buy rating in a report on Friday, February 2nd. Finally, Cantor Fitzgerald reiterated a buy rating and issued a $38.00 price objective on shares of Health Insurance Innovations in a report on Wednesday, November 1st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Health Insurance Innovations presently has a consensus rating of Buy and an average price target of $33.71.

Shares of Health Insurance Innovations (HIIQ) opened at $24.65 on Tuesday. Health Insurance Innovations has a 1-year low of $12.65 and a 1-year high of $37.38. The firm has a market capitalization of $407.78, a PE ratio of 20.20 and a beta of 0.62.

In other news, Director Robert S. Murley purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were purchased at an average price of $22.50 per share, for a total transaction of $112,500.00. Following the purchase, the director now directly owns 39,734 shares of the company’s stock, valued at approximately $894,015. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sheldon Wang sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $26.30, for a total value of $263,000.00. Following the transaction, the insider now owns 169,001 shares in the company, valued at approximately $4,444,726.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,464 shares of company stock worth $1,605,100. Company insiders own 30.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in HIIQ. Arrowstreet Capital Limited Partnership grew its stake in Health Insurance Innovations by 131.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 668,208 shares of the financial services provider’s stock worth $16,672,000 after buying an additional 379,308 shares during the last quarter. Lyon Street Capital LLC grew its stake in Health Insurance Innovations by 49.4% during the 3rd quarter. Lyon Street Capital LLC now owns 936,747 shares of the financial services provider’s stock worth $13,583,000 after buying an additional 309,668 shares during the last quarter. OxFORD Asset Management LLP purchased a new position in Health Insurance Innovations during the 3rd quarter worth approximately $3,553,000. B. Riley Financial Inc. grew its stake in Health Insurance Innovations by 62.0% during the 3rd quarter. B. Riley Financial Inc. now owns 405,000 shares of the financial services provider’s stock worth $5,873,000 after buying an additional 155,000 shares during the last quarter. Finally, State Street Corp purchased a new position in Health Insurance Innovations during the 2nd quarter worth approximately $3,430,000. Hedge funds and other institutional investors own 64.05% of the company’s stock.

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Health Insurance Innovations Company Profile

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.

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Analyst Recommendations for Health Insurance Innovations (NASDAQ:HIIQ)

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