Health Insurance Innovations Inc. (HIIQ) to Post Q3 2016 Earnings of $0.10 Per Share, Lake Street Capital Forecasts
Health Insurance Innovations Inc. (NASDAQ:HIIQ) – Stock analysts at Lake Street Capital issued their Q3 2016 earnings estimates for Health Insurance Innovations in a research report issued to clients and investors on Thursday. Lake Street Capital analyst M. Argento forecasts that the brokerage will post earnings of $0.10 per share for the quarter. Lake Street Capital has a “Buy” rating and a $9.00 price objective on the stock. Lake Street Capital also issued estimates for Health Insurance Innovations’ Q4 2016 earnings at $0.11 EPS, FY2016 earnings at $0.65 EPS and FY2017 earnings at $0.75 EPS.
Health Insurance Innovations (NASDAQ:HIIQ) last issued its earnings results on Monday, August 8th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.06 by $0.21. The company earned $44.50 million during the quarter, compared to analyst estimates of $37.11 million. Health Insurance Innovations had a return on equity of 11.78% and a net margin of 2.48%.
HIIQ has been the subject of a number of other research reports. Zacks Investment Research raised Health Insurance Innovations from a “hold” rating to a “strong-buy” rating and set a $5.00 price target for the company in a research report on Thursday, August 11th. TheStreet raised Health Insurance Innovations from a “sell” rating to a “hold” rating in a research report on Monday, May 23rd. Raymond James Financial Inc. cut Health Insurance Innovations from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, June 9th. Finally, Northland Securities began coverage on Health Insurance Innovations in a research report on Tuesday, June 7th. They set an “outperform” rating for the company. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $7.00.
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Health Insurance Innovations (NASDAQ:HIIQ) opened at 5.20 on Monday. The firm has a market cap of $40.51 million, a price-to-earnings ratio of 10.86 and a beta of -0.29. Health Insurance Innovations has a 12 month low of $3.72 and a 12 month high of $8.54. The stock has a 50 day moving average price of $4.88 and a 200 day moving average price of $5.45.
In other news, major shareholder Cannell Capital Llc purchased 11,144 shares of the stock in a transaction that occurred on Wednesday, June 29th. The shares were purchased at an average cost of $3.94 per share, for a total transaction of $43,907.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick Mcnamee purchased 15,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were purchased at an average price of $4.52 per share, for a total transaction of $67,800.00. The disclosure for this purchase can be found here. Corporate insiders own 52.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Health Insurance Innovations by 64.1% in the second quarter. Vanguard Group Inc. now owns 349,176 shares of the company’s stock valued at $1,372,000 after buying an additional 136,401 shares in the last quarter. Cannell Capital LLC raised its position in shares of Health Insurance Innovations by 9.7% in the second quarter. Cannell Capital LLC now owns 1,170,619 shares of the company’s stock valued at $4,601,000 after buying an additional 103,061 shares in the last quarter. Bridgeway Capital Management Inc. raised its position in shares of Health Insurance Innovations by 92.4% in the second quarter. Bridgeway Capital Management Inc. now owns 200,900 shares of the company’s stock valued at $790,000 after buying an additional 96,484 shares in the last quarter. Oxford Asset Management purchased a new position in shares of Health Insurance Innovations during the second quarter valued at about $270,000. Finally, Prescott Group Capital Management L.L.C. purchased a new position in shares of Health Insurance Innovations during the second quarter valued at about $219,000. Hedge funds and other institutional investors own 27.82% of the company’s stock.
About Health Insurance Innovations
Health Insurance Innovations, Inc is a developer, distributor and virtual administrator of individual and family health insurance plans and supplemental products. The Company sells individual and family insurance plans (IFP) that include short-term medical (STM) insurance plans and hospital indemnity plans.
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