Heritage Insurance Holdings, Inc. (NYSE:HRTG) Sees Large Growth in Short Interest

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 458,100 shares, a growth of 7.8% from the February 29th total of 424,800 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average daily volume of 406,300 shares, the days-to-cover ratio is presently 1.1 days.

Heritage Insurance Stock Down 0.5 %

Heritage Insurance stock traded down $0.06 during mid-day trading on Tuesday, reaching $10.93. 358,816 shares of the company were exchanged, compared to its average volume of 420,796. The business has a fifty day moving average of $7.49 and a 200 day moving average of $6.94. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $330.30 million, a P/E ratio of 6.35 and a beta of 0.89. Heritage Insurance has a 12-month low of $2.85 and a 12-month high of $11.23.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HRTG. StockNews.com upgraded Heritage Insurance from a "hold" rating to a "buy" rating in a report on Thursday, March 21st. Truist Financial boosted their price target on Heritage Insurance from $9.00 to $11.00 and gave the company a "buy" rating in a report on Wednesday, March 13th. Piper Sandler reiterated a "neutral" rating and issued a $9.00 price target on shares of Heritage Insurance in a report on Monday. Finally, JMP Securities reiterated a "market perform" rating on shares of Heritage Insurance in a report on Wednesday, March 13th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Heritage Insurance currently has an average rating of "Moderate Buy" and an average target price of $9.00.

Insider Transactions at Heritage Insurance

In other news, Director Paul L. Whiting bought 20,000 shares of Heritage Insurance stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $8.14 per share, with a total value of $162,800.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company's stock, valued at approximately $162,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 11.90% of the company's stock.

Institutional Trading of Heritage Insurance

A number of hedge funds have recently bought and sold shares of HRTG. Cubist Systematic Strategies LLC purchased a new stake in Heritage Insurance during the third quarter worth $25,000. Atria Wealth Solutions Inc. acquired a new position in shares of Heritage Insurance during the second quarter worth $29,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Heritage Insurance during the first quarter worth $31,000. Lazard Asset Management LLC acquired a new position in shares of Heritage Insurance in the 3rd quarter valued at $33,000. Finally, Prudential Financial Inc. acquired a new position in shares of Heritage Insurance in the 1st quarter valued at $39,000. Hedge funds and other 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.