Hippo Holdings Inc. (NYSE:HIPO) Short Interest Update

Hippo Holdings Inc. (NYSE:HIPO) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 1,380,000 shares, a decline of 8.0% from the August 15th total of 1,500,000 shares. Based on an average daily trading volume, of 149,100 shares, the days-to-cover ratio is presently 9.3 days. Approximately 10.2% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods increased their target price on Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a research note on Monday, August 19th.

Hippo Price Performance

NYSE HIPO traded down $0.65 on Wednesday, reaching $17.48. 195,532 shares of the company’s stock traded hands, compared to its average volume of 158,547. The stock has a market cap of $435.60 million, a PE ratio of -1.80 and a beta of 1.35. Hippo has a 12 month low of $6.64 and a 12 month high of $25.49. The stock has a 50-day simple moving average of $18.38 and a 200 day simple moving average of $18.37.

Hippo (NYSE:HIPO) last issued its earnings results on Thursday, August 8th. The company reported ($1.64) EPS for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.16). Hippo had a negative return on equity of 46.46% and a negative net margin of 57.80%. The business had revenue of $89.60 million during the quarter, compared to analysts’ expectations of $85.40 million. During the same quarter in the previous year, the business earned ($4.61) EPS. As a group, analysts anticipate that Hippo will post -4.68 EPS for the current year.

Insider Buying and Selling at Hippo

In related news, CRO Yuval Harry sold 2,958 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $18.49, for a total transaction of $54,693.42. Following the sale, the executive now owns 104,247 shares of the company’s stock, valued at approximately $1,927,527.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.37% of the company’s stock.

Hedge Funds Weigh In On Hippo

Several institutional investors and hedge funds have recently bought and sold shares of HIPO. Steamboat Capital Partners LLC bought a new stake in Hippo in the 1st quarter worth $158,000. AQR Capital Management LLC bought a new stake in shares of Hippo in the second quarter worth about $194,000. Dynamic Technology Lab Private Ltd purchased a new position in Hippo during the 4th quarter valued at about $114,000. PEAK6 Investments LLC bought a new position in Hippo during the 1st quarter valued at approximately $277,000. Finally, Squarepoint Ops LLC bought a new position in Hippo during the 2nd quarter valued at approximately $335,000. 43.01% of the stock is currently owned by institutional investors.

About Hippo

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.