How Health Insurance Innovations Inc (HIIQ) Stacks Up Against Its Peers

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As industry-wide interest jumped, some big names have been driving this bullishness. Millennium Management, founded by Israel Englander, assembled the most outsized position in Health Insurance Innovations Inc (NASDAQ:HIIQ). Millennium Management had $0.2 million invested in the company at the end of the third quarter.

Let’s go over hedge fund activity in other stocks similar to Health Insurance Innovations Inc (NASDAQ:HIIQ). We will take a look at Infinity Pharmaceuticals Inc. (NASDAQ:INFI), SAExploration Holdings, Inc. (NASDAQ:SAEX), Sunshine Bancorp Inc (NASDAQ:SBCP), and Computer Task Group, Inc. (NASDAQ:CTG). This group of stocks’ market caps are similar to HIIQ’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
INFI 15 21975 0
SAEX 6 43568 1
SBCP 6 13812 1
CTG 5 12226 0

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $23 million. That figure was $11 million in HIIQ’s case. Infinity Pharmaceuticals Inc. (NASDAQ:INFI) is the most popular stock in this table. On the other hand Computer Task Group, Inc. (NASDAQ:CTG) is the least popular one with only 5 bullish hedge fund positions. Health Insurance Innovations Inc (NASDAQ:HIIQ) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard INFI might be a better candidate to consider taking a long position in.

Disclosure: None

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