Health Insurance Innovations Inc (NASDAQ:HIIQ) Insider Sells $250,000.00 in Stock

Health Insurance Innovations Inc (NASDAQ:HIIQ) insider Sheldon Wang sold 10,000 shares of the stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $25.00, for a total value of $250,000.00. Following the completion of the sale, the insider now owns 144,001 shares of the company’s stock, valued at $3,600,025. The sale was disclosed in a filing with the SEC, which is available at this link.

Sheldon Wang also recently made the following trade(s):

  • On Thursday, January 4th, Sheldon Wang sold 5,000 shares of Health Insurance Innovations stock. The shares were sold at an average price of $25.00, for a total value of $125,000.00.
  • On Friday, December 28th, Sheldon Wang sold 1,232 shares of Health Insurance Innovations stock. The shares were sold at an average price of $25.00, for a total value of $30,800.00.
  • On Tuesday, January 2nd, Sheldon Wang sold 11,232 shares of Health Insurance Innovations stock. The shares were sold at an average price of $25.00, for a total value of $280,800.00.
  • On Thursday, December 21st, Sheldon Wang sold 10,000 shares of Health Insurance Innovations stock. The shares were sold at an average price of $25.20, for a total value of $252,000.00.
  • On Tuesday, December 19th, Sheldon Wang sold 10,000 shares of Health Insurance Innovations stock. The shares were sold at an average price of $26.30, for a total value of $263,000.00.
  • On Friday, December 15th, Sheldon Wang sold 5,000 shares of Health Insurance Innovations stock. The shares were sold at an average price of $27.40, for a total value of $137,000.00.
  • On Wednesday, December 13th, Sheldon Wang sold 5,000 shares of Health Insurance Innovations stock. The shares were sold at an average price of $25.00, for a total value of $125,000.00.

Health Insurance Innovations Inc (HIIQ) opened at $25.40 on Friday. Health Insurance Innovations Inc has a 12-month low of $12.65 and a 12-month high of $37.38. The company has a market cap of $420.18, a PE ratio of 20.82 and a beta of 0.65.

Health Insurance Innovations (NASDAQ:HIIQ) last issued its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.35 by $0.11. Health Insurance Innovations had a net margin of 5.98% and a return on equity of 21.32%. The business had revenue of $63.34 million for the quarter, compared to analysts’ expectations of $59.30 million. During the same quarter last year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 37.4% compared to the same quarter last year. sell-side analysts predict that Health Insurance Innovations Inc will post 1.39 earnings per share for the current fiscal year.

Health Insurance Innovations declared that its Board of Directors has approved a stock repurchase program on Monday, October 16th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. bought a new position in shares of Health Insurance Innovations during the second quarter worth about $113,000. Advisors Asset Management Inc. bought a new position in shares of Health Insurance Innovations during the third quarter worth about $142,000. Nationwide Fund Advisors bought a new position in shares of Health Insurance Innovations during the second quarter worth about $149,000. Chicago Equity Partners LLC bought a new position in shares of Health Insurance Innovations during the third quarter worth about $158,000. Finally, First Trust Advisors LP bought a new position in shares of Health Insurance Innovations during the third quarter worth about $171,000. 68.00% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on HIIQ. Zacks Investment Research upgraded Health Insurance Innovations from a “hold” rating to a “strong-buy” rating and set a $24.00 target price for the company in a research note on Tuesday, October 17th. BidaskClub upgraded Health Insurance Innovations from a “hold” rating to a “buy” rating in a research note on Friday, December 15th. Northland Securities restated a “buy” rating and set a $37.00 target price on shares of Health Insurance Innovations in a research note on Tuesday, October 17th. Canaccord Genuity set a $39.00 target price on Health Insurance Innovations and gave the company a “buy” rating in a research note on Sunday, November 12th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $38.00 target price on shares of Health Insurance Innovations in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $32.67.

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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.

Insider Buying and Selling by Quarter for Health Insurance Innovations (NASDAQ:HIIQ)

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