Short Interest in American Integrity Insurance Group, Inc. (NYSE:AII) Expands By 620.4%

Key Points

• Short interest for American Integrity Insurance Group surged by 620.4%, reaching 459,600 shares as of September 30th, indicating heightened investor pessimism about the stock.
• Wall Street analysts have upgraded their price targets for AII, with multiple firms raising their targets to between $24.00 and $27.00, reflecting confidence in the company's growth potential.
• Recent quarterly earnings showed $1.84 EPS and revenue of $74.50 million, contributing to a favorable outlook among investors and analysts.

American Integrity Insurance Group, Inc. (NYSE:AII - Get Free Report) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totaling 459,600 shares, an increase of 620.4% from the September 15th total of 63,800 shares. Approximately 6.0% of the company's shares are sold short. Based on an average trading volume of 104,000 shares, the short-interest ratio is presently 4.4 days. Based on an average trading volume of 104,000 shares, the short-interest ratio is presently 4.4 days. Approximately 6.0% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AII. Keefe, Bruyette & Woods lifted their price target on shares of American Integrity Insurance Group from $23.00 to $26.00 and gave the company an "outperform" rating in a report on Monday, October 6th. JMP Securities lifted their price target on shares of American Integrity Insurance Group from $23.00 to $26.00 and gave the company a "market outperform" rating in a report on Tuesday. Raymond James Financial reiterated an "outperform" rating and issued a $24.00 price target (up previously from $22.00) on shares of American Integrity Insurance Group in a report on Monday, September 22nd. Piper Sandler lifted their price target on shares of American Integrity Insurance Group from $22.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, October 6th. Finally, Citigroup reissued an "outperform" rating on shares of American Integrity Insurance Group in a research report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.20.

Hedge Funds Weigh In On American Integrity Insurance Group

Large investors have recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new position in shares of American Integrity Insurance Group in the 2nd quarter worth about $45,000. Raymond James Financial Inc. purchased a new position in shares of American Integrity Insurance Group in the 2nd quarter worth about $101,000. XTX Topco Ltd bought a new stake in American Integrity Insurance Group in the 2nd quarter worth about $192,000. Engineers Gate Manager LP bought a new stake in American Integrity Insurance Group in the 2nd quarter worth about $248,000. Finally, Oxford Asset Management LLP bought a new stake in American Integrity Insurance Group in the 2nd quarter worth about $273,000.

American Integrity Insurance Group Price Performance

Shares of AII traded up $0.07 during trading hours on Friday, hitting $23.17. The company had a trading volume of 87,820 shares, compared to its average volume of 130,556. The company's fifty day moving average is $20.62. American Integrity Insurance Group has a 52-week low of $15.77 and a 52-week high of $24.50.

American Integrity Insurance Group (NYSE:AII - Get Free Report) last posted its quarterly earnings results on Wednesday, September 3rd. The company reported $1.84 earnings per share (EPS) for the quarter. The company had revenue of $74.50 million during the quarter.

About American Integrity Insurance Group

We are a profitable and growing insurance group headquartered in Tampa, Florida. Through our insurance carrier subsidiary, American Integrity Insurance Company of Florida, Inc (“AIICFL”), we provide personal residential property insurance for single-family homeowners and condominium owners as well as coverage for vacant dwellings and investment properties, predominantly in Florida.

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