Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 845,500 shares, a growth of 8.5% from the March 31st total of 779,200 shares. Based on an average daily trading volume, of 401,500 shares, the short-interest ratio is currently 2.1 days. Currently, 3.8% of the shares of the company are sold short.
Wall Street Analyst Weigh In
HRTG has been the subject of a number of recent analyst reports. Truist Financial upped their price objective on shares of Heritage Insurance from $9.00 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, March 13th. JMP Securities reaffirmed a "market perform" rating on shares of Heritage Insurance in a report on Monday, April 15th. StockNews.com upgraded Heritage Insurance from a "hold" rating to a "buy" rating in a research report on Thursday, March 21st. Finally, Piper Sandler restated a "neutral" rating and issued a $9.00 price objective on shares of Heritage Insurance in a research report on Monday, April 1st. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.00.
Read Our Latest Report on HRTG
Heritage Insurance Price Performance
Shares of HRTG stock traded down $0.08 on Tuesday, reaching $10.19. 209,846 shares of the company were exchanged, compared to its average volume of 391,622. Heritage Insurance has a 1 year low of $3.20 and a 1 year high of $11.23. 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 business has a 50-day moving average price of $9.07 and a 200 day moving average price of $7.55. The company has a market cap of $312.22 million, a price-to-earnings ratio of 5.92 and a beta of 0.89.
Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its quarterly earnings data on Monday, March 11th. The insurance provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.70. Heritage Insurance had a return on equity of 26.69% and a net margin of 6.16%. The company had revenue of $186.97 million for the quarter, compared to analysts' expectations of $185.11 million. Equities research analysts forecast that Heritage Insurance will post 1.52 earnings per share for the current fiscal year.
Insider Buying and Selling at Heritage Insurance
In related news, Director Paul L. Whiting purchased 20,000 shares of the firm's stock in a transaction on Thursday, March 14th. The stock was bought 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 3,800 shares of company stock worth $28,943. Insiders own 11.90% of the company's stock.
Institutional Trading of Heritage Insurance
Several large investors have recently made changes to their positions in HRTG. Tower Research Capital LLC TRC purchased a new position in Heritage Insurance in the 4th quarter worth approximately $40,000. Quadrature Capital Ltd purchased a new position in Heritage Insurance during the third quarter worth approximately $109,000. O Shaughnessy Asset Management LLC acquired a new position in Heritage Insurance during the third quarter worth $172,000. Ritholtz Wealth Management grew its holdings in Heritage Insurance by 232.0% in the 4th quarter. Ritholtz Wealth Management now owns 34,097 shares of the insurance provider's stock valued at $222,000 after buying an additional 23,826 shares in the last quarter. Finally, Jump Financial LLC increased its stake in shares of Heritage Insurance by 137.4% in the 3rd quarter. Jump Financial LLC now owns 48,188 shares of the insurance provider's stock worth $313,000 after acquiring an additional 27,888 shares during the last quarter. 59.03% of the stock is currently owned by hedge funds and other institutional investors.
Heritage Insurance Company Profile
(
Get Free Report)
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.
Further Reading
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