Short Interest in Hippo Holdings Inc. (NYSE:HIPO) Declines By 15.5%

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,200,000 shares, a drop of 15.5% from the March 15th total of 1,420,000 shares. Approximately 8.9% of the shares of the company are short sold. Based on an average trading volume of 186,400 shares, the days-to-cover ratio is currently 6.4 days.

Analyst Ratings Changes

HIPO has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on Hippo from $24.00 to $26.00 and gave the stock a "market perform" rating in a report on Tuesday. Jefferies Financial Group lowered their price target on Hippo from $43.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, April 11th.

Hippo Stock Performance

NYSE:HIPO traded down $0.35 during trading hours on Friday, reaching $24.20. The company's stock had a trading volume of 99,538 shares, compared to its average volume of 165,829. The firm has a 50-day simple moving average of $25.96 and a 200-day simple moving average of $26.24. Hippo has a 1 year low of $14.58 and a 1 year high of $35.44. The firm has a market capitalization of $606.98 million, a price-to-earnings ratio of -4.64 and a beta of 1.49.

Hippo (NYSE:HIPO - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.08. The business had revenue of $102.00 million for the quarter, compared to analyst estimates of $97.83 million. Hippo had a negative return on equity of 36.38% and a negative net margin of 37.94%. Equities analysts anticipate that Hippo will post -3.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Michael Stienstra sold 2,329 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $30.02, for a total transaction of $69,916.58. Following the sale, the insider now directly owns 59,648 shares in the company, valued at $1,790,632.96. This represents a 3.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Torben Ostergaard sold 3,022 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $27.25, for a total transaction of $82,349.50. Following the transaction, the chief executive officer now directly owns 95,266 shares of the company's stock, valued at approximately $2,595,998.50. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,997 shares of company stock valued at $1,469,538. 11.37% of the stock is owned by insiders.

Institutional Trading of Hippo

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new position in Hippo during the 4th quarter valued at approximately $118,000. The Manufacturers Life Insurance Company bought a new stake in Hippo in the fourth quarter valued at $200,000. Two Sigma Advisers LP bought a new position in Hippo in the 4th quarter worth $200,000. EntryPoint Capital LLC purchased a new stake in shares of Hippo in the 4th quarter worth about $204,000. Finally, GAMMA Investing LLC boosted its stake in shares of Hippo by 4,916.3% during the 1st quarter. GAMMA Investing LLC now owns 8,026 shares of the company's stock valued at $2,050,000 after purchasing an additional 7,866 shares in the last quarter. 43.01% of the stock is currently owned by hedge funds and other institutional investors.

Hippo Company Profile

Hippo Holdings Inc provides property and casualty insurance products to individuals and business customers primarily in the United States. The company operates through three segments: Services, Insurance-as-a-Service, and Hippo Home Insurance Program. Its insurance products include homeowners' insurance against risks of fire, wind, and theft, as well as other personal lines policies from third party carriers; and personal and commercial, as well as home, auto, cyber, small business, life, specialty lines, and other insurance products.