Heritage Insurance Holdings, Inc. (NYSE:HRTG) Short Interest Update

Heritage Insurance Holdings, Inc. (NYSE:HRTG) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 966,900 shares, a drop of 7.0% from the October 15th total of 1,040,000 shares. Approximately 4.3% of the shares of the stock are short sold. Based on an average trading volume of 610,900 shares, the days-to-cover ratio is currently 1.6 days.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Truist Financial increased their price target on Heritage Insurance from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Piper Sandler raised Heritage Insurance from a “neutral” rating to an “overweight” rating and raised their target price for the company from $9.00 to $13.00 in a research note on Friday, August 9th. Finally, StockNews.com upgraded shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Saturday.

Heritage Insurance Trading Down 0.6 %

Heritage Insurance stock opened at $12.11 on Wednesday. Heritage Insurance has a 1 year low of $5.51 and a 1 year high of $16.90. The firm’s 50 day moving average price is $12.31 and its two-hundred day moving average price is $10.43. The firm has a market cap of $371.53 million, a price-to-earnings ratio of 4.87 and a beta of 0.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Wednesday, November 6th. The insurance provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.25. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. The company had revenue of $211.85 million for the quarter, compared to analyst estimates of $209.91 million. During the same period in the previous year, the firm earned ($0.28) earnings per share. On average, research analysts predict that Heritage Insurance will post 1.27 EPS for the current fiscal year.

Institutional Trading of Heritage Insurance

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of Heritage Insurance by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,414,585 shares of the insurance provider’s stock valued at $10,016,000 after acquiring an additional 96,923 shares during the period. Renaissance Technologies LLC grew its position in Heritage Insurance by 45.7% during the 2nd quarter. Renaissance Technologies LLC now owns 436,099 shares of the insurance provider’s stock worth $3,088,000 after purchasing an additional 136,800 shares in the last quarter. American Century Companies Inc. raised its stake in Heritage Insurance by 63.3% during the 2nd quarter. American Century Companies Inc. now owns 432,732 shares of the insurance provider’s stock valued at $3,064,000 after purchasing an additional 167,819 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Heritage Insurance by 226.3% in the second quarter. Acadian Asset Management LLC now owns 410,515 shares of the insurance provider’s stock valued at $2,903,000 after purchasing an additional 284,710 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Heritage Insurance by 22.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 388,587 shares of the insurance provider’s stock worth $4,756,000 after buying an additional 70,100 shares during the period. 59.03% of the stock is owned by hedge funds and other institutional investors.

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.