Heritage Insurance Holdings, Inc. (NYSE:HRTG) Short Interest Up 72.8% in May

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) was the target of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 1,320,000 shares, an increase of 72.8% from the April 30th total of 764,000 shares. Based on an average daily volume of 381,300 shares, the days-to-cover ratio is presently 3.5 days. Approximately 5.9% of the company's stock are short sold.

Heritage Insurance Stock Performance

Shares of HRTG traded up $1.06 during mid-day trading on Monday, hitting $25.53. The stock had a trading volume of 644,515 shares, compared to its average volume of 316,823. The firm has a market cap of $791.28 million, a P/E ratio of 10.21 and a beta of 0.95. Heritage Insurance has a 52 week low of $6.14 and a 52 week high of $26.64. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The business has a fifty day moving average price of $19.64 and a 200-day moving average price of $14.66.

Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.53. The company had revenue of $211.52 million for the quarter, compared to analyst estimates of $213.68 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. On average, equities research analysts expect that Heritage Insurance will post 1.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Heritage Insurance from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Piper Sandler lifted their price objective on shares of Heritage Insurance from $19.00 to $28.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Finally, Truist Financial increased their target price on shares of Heritage Insurance from $20.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, May 8th.

Insider Buying and Selling

In other Heritage Insurance news, Director Panagiotis Apostolou sold 25,000 shares of Heritage Insurance stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $25.40, for a total transaction of $635,000.00. Following the transaction, the director now owns 164,719 shares of the company's stock, valued at $4,183,862.60. This trade represents a 13.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ernie J. Garateix bought 5,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was acquired at an average price of $12.77 per share, for a total transaction of $63,850.00. Following the purchase, the chief executive officer now directly owns 1,270,808 shares in the company, valued at approximately $16,228,218.16. The trade was a 0.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 21,000 shares of company stock worth $280,450. 15.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Heritage Insurance

A number of hedge funds and other institutional investors have recently bought and sold shares of HRTG. Jacobs Levy Equity Management Inc. bought a new position in shares of Heritage Insurance in the fourth quarter worth $7,799,000. Segall Bryant & Hamill LLC lifted its position in shares of Heritage Insurance by 176.9% in the 4th quarter. Segall Bryant & Hamill LLC now owns 348,556 shares of the insurance provider's stock worth $4,218,000 after purchasing an additional 222,689 shares during the period. Pacific Ridge Capital Partners LLC boosted its stake in shares of Heritage Insurance by 33.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 813,557 shares of the insurance provider's stock valued at $9,844,000 after purchasing an additional 205,195 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Heritage Insurance by 14.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,569,667 shares of the insurance provider's stock valued at $18,993,000 after buying an additional 193,590 shares during the period. Finally, Invesco Ltd. raised its stake in Heritage Insurance by 24.0% in the fourth quarter. Invesco Ltd. now owns 944,639 shares of the insurance provider's stock worth $11,430,000 after buying an additional 182,624 shares in the last quarter. Institutional investors own 59.03% of the company's stock.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential insurance in Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; commercial residential insurance for properties in Florida, New Jersey, and New York; and licensed in the state of Pennsylvania, as well as personal residential and wind-only property insurance.