The stock of Health Insurance Innovations Inc (NASDAQ:HIIQ) hit a new 52-week high and has $22.64 target or 104.00% above today’s $11.10 share price. The 8 months bullish chart indicates low risk for the $151.84 million company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $22.64 price target is reached, the company will be worth $157.91 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 962,232 shares traded hands or 192.02% up from the average. Health Insurance Innovations Inc (NASDAQ:HIIQ) has risen 56.80% since April 19, 2016 and is uptrending. It has outperformed by 52.94% the S&P500.
Health Insurance Innovations Inc (NASDAQ:HIIQ) Ratings Coverage
Out of 2 analysts covering Health Insurance Innovations Inc (NASDAQ:HIIQ), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Health Insurance Innovations Inc has been the topic of 3 analyst reports since August 13, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Lake Street given on Thursday, September 15. As per Thursday, June 9, the company rating was downgraded by Raymond James.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment decreased to 1.23 in Q2 2016. Its down 0.32, from 1.55 in 2016Q1. The ratio fall, as 4 funds sold all Health Insurance Innovations Inc shares owned while 7 reduced positions. 13 funds bought stakes while 4 increased positions. They now own 4.10 million shares or 3.53% less from 4.25 million shares in 2016Q1.
Geode Cap Mngmt Limited Liability Company accumulated 0% or 26,772 shares. Blackrock Investment Mgmt Limited Liability Company holds 1,151 shares or 0% of its portfolio. Kcg Hldgs owns 27,174 shares or 0% of their US portfolio. Morgan Stanley reported 2,100 shares or 0% of all its holdings. Cna Financial Corporation holds 14,859 shares or 0.01% of its portfolio. Blackrock Fund Advsr accumulated 19,275 shares or 0% of the stock. Renaissance Technology Limited Liability Company has 0% invested in the company for 33,500 shares. Bancorporation Of America De holds 0% of its portfolio in Health Insurance Innovations Inc (NASDAQ:HIIQ) for 107,102 shares. Manufacturers Life Insurance Communications The accumulated 0% or 1,218 shares. Northern, a Illinois-based fund reported 10,758 shares. Bridgeway Cap holds 0.01% of its portfolio in Health Insurance Innovations Inc (NASDAQ:HIIQ) for 200,900 shares. Cannell Cap Ltd Liability Corporation accumulated 1.87% or 1.17M shares. Thompson Davis has invested 0.04% of its portfolio in Health Insurance Innovations Inc (NASDAQ:HIIQ). Grandeur Peak Global Advsrs Ltd Liability accumulated 0.27% or 218,936 shares. California Employees Retirement System holds 0% of its portfolio in Health Insurance Innovations Inc (NASDAQ:HIIQ) for 121,600 shares.
Insider Transactions: Since June 14, 2016, the stock had 6 buys, and 0 selling transactions for $285,852 net activity. $67,760 worth of shares were bought by McNamee Patrick on Wednesday, August 10. On Wednesday, August 10 the insider Hershberger Michael D bought $4,490. 45,000 Health Insurance Innovations Inc (NASDAQ:HIIQ) shares with value of $180,435 were bought by CANNELL CAPITAL LLC. Denother Josef A. also bought $4,600 worth of Health Insurance Innovations Inc (NASDAQ:HIIQ) shares.
More notable recent Health Insurance Innovations Inc (NASDAQ:HIIQ) news were published by: Nasdaq.com which released: “Health Insurance Innovations, Inc. Appoints Gavin Southwell as Chief Executive …” on November 15, 2016, also Globenewswire.com with their article: “Health Insurance Innovations, Inc. Reports Record Third Quarter 2016 Financial …” published on November 02, 2016, Marketwatch.com published: “Health Insurance Innovations drops 20% after downgrade” on June 09, 2016. More interesting news about Health Insurance Innovations Inc (NASDAQ:HIIQ) were released by: Globenewswire.com and their article: “Health Insurance Innovations, Inc. To Announce Second Quarter 2016 Financial …” published on July 11, 2016 as well as Investorplace.com‘s news article titled: “Health Insurance Innovations Inc (HIIQ): Micro-Cap Roars on Earnings Beat” with publication date: August 09, 2016.
HIIQ Company Profile
Health Insurance Innovations, Inc., incorporated on October 26, 2012, is a developer, distributor and virtual administrator of individual and family health insurance plans and supplemental products. The Firm sells individual and family insurance plans (IFP) that include short-term medical (STM) insurance plans and hospital indemnity plans. The Firm operates through Insurance Plan Development and Distribution (IPD) segment. The Company’s products include STM, hospital indemnity plans and supplemental products. The Company’s STM plans cover individuals for over 360 days with a range of co-pay and deductible options. Individual major medical (IMM) plans cover prescription drugs, pre-existing conditions and preventive care, while STM plans provide optional coverage for prescription drugs. The Company’s hospital indemnity plans provide a daily cash benefit for hospital treatment and doctor office visits, as well as accidental injury and death or dismemberment benefits.
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