Raymond James Downgrades Health Insurance Innovations Inc to Market Perform

Brokerage firm Raymond James Downgrades its rating on Health Insurance Innovations Inc(NASDAQ:HIIQ). The shares have been rated Market Perform. Previously, the analysts had a Strong Buy rating on the shares. The rating by Raymond James was issued on Jun 9, 2016.

Health Insurance Innovations Inc (HIIQ) shares turned negative on Wednesdays trading session with the shares closing down -0.01 points or -0.24% at a volume of 1,46,400. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $4.43. The peak price level was also seen at $4.43 while the days lowest was $4.05. Finally the shares closed at $4.09. The 52-week high of the shares is $8.535 while the 52-week low is $3.72. According to the latest information available, the market cap of the company is $60 M.

Health Insurance Innovations Inc(HIIQ) last announced its earnings results on May 9, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $42.49M. Analysts had an estimated revenue of $33.69M. Earnings per share were $0.17. Analysts had estimated an EPS of $0.03.

Several Insider Transactions has been reported to the SEC. On May 20, 2016, Capital Llc Cannell (10% owner) purchased 600 shares at $6.21 per share price.Also, On Aug 25, 2015, Plan Intermediaries Sub Health (CEO) purchased 26,079 shares at $4.62 per share price.On Aug 24, 2015, Patrick Mcnamee (President) purchased 25,000 shares at $4.56 per share price, according to the Form-4 filing with the securities and exchange commission.

Health Insurance Innovations Inc. is a developer distributor and administrator of cloud-based individual health insurance plans and ancillary products. The Company operates through two business segments: Insurance Plan Development and Distribution (IPD) and HP. IPD segment is engaged in designing implementing and administering short-term medical (STM) and other products and the distribution of STM and other products to consumer through its call center distribution network and online purchasing. HP segment includes the business activities of HealthPocket (HP) a subsidiary of the Company including the development of HealthPocket.com and generation of referral-based and other revenues. The Company offers products such as STM plans hospital indemnity plans and ancillary products.

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