Recent insider trends for Health Insurance Innovations, Inc. (NASDAQ:HIIQ) have caught the attention of investors. Analysts study insider data to get a sense of sense of what key shareholders think about the outlook for a particular stock. In the case of HIIQ, the data has some interesting implications for where the stock might be headed.
Institutions own 88.38% of Health Insurance Innovations, Inc. (HIIQ)’s shares. The total value of these holdings, in millions, is $333. Among active positions in the latest quarter, 68 holders increased their positions by a total of 5.33 million shares, 46 holders decreased the positions by a total of 2.16 million shares, and 8 holders held their positions. This works out to a net increase in ownership of 3.16 million shares, and suggests that institutions are feeling bullish about the stock.
Among new and sold out positions, 46 holders initiated new positions by a total of 3.15 million shares and 20 holders exited their positions by a total of 1 million shares. This nets out to an increase of 2.15 million shares and is a bullish sign for HIIQ.
In the last three months, insiders executed a total of 36 trades. 9 of these were buys and 27 were sells. Insider ownership decreased by a total of 56081 shares, which suggests that HIIQ’s key executives are feeling less optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: insiders executed 17 buys and 98 sells, and ownership decreased by a net of 3.64 million shares.
Comparing the number of shares sold short over time is a method analysts often use to get a reading on investor sentiment. Health Insurance Innovations, Inc. (NASDAQ:HIIQ)’s short interest is 1.59 million shares, or 26.67% of the float. This represents a decrease of -11% in the number of shares being shorted compared to the previous reading, and implies that investors felt less pessimistic about the stock during the past two weeks.
Supplementing insider data with technical indicators can help an investor form a more complete view on the outlook for a stock. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that HIIQ is a sell, which implies that HIIQ is expected to underperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bearish. Technical indicators (also) suggest that Health Insurance Innovations, Inc. (NASDAQ:HIIQ) is overvalued.