The stock had fallen because of an earnings warning. It recently caught a bid based on reports that they were one of the few companies who stood to benefit from Trump’s latest gambit to destroy Obamacare — by permitting people to cross state lines for cheaper insurance.
Today, the company guided up and announced a share buyback. I know the stock is up big today, and I did warn you emphatically about this happening, but it’s not done going higher.
Via The Pelican Room inside Exodus.
Here on the blog.
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Health Insurance Innovations sees Q3 EPS and revs above consensus; announces $50 mln share repurchase program (18.90)
Co issues upside guidance for Q3 (Sep), sees EPS of $0.44-0.46 vs. $0.35 Capital IQ Consensus Estimate; sees Q3 (Sep) revs of $62.3-63.3 mln vs. $54.98 mln Capital IQ Consensus Estimate.
Additionally, the Company expects to report EBITDA in the range of $9.4 million to $9.9 million and adjusted EBITDA of $12.3 million to $12.8 million for the same period. The expected range in GAAP net income represents an increase of approximately 8% to 18%, and the expected range in EBITDA represents an increase of approximately 27% to 34%, over the comparable prior year period.
Co also announced that its Board of Directors has authorized the repurchase of up to $50 million of the Company’s Class A common stock through October 2019.