Heritage Insurance Holdings, Inc. (NYSE:HRTG) Short Interest Down 8.7% in January

Heritage Insurance Holdings, Inc. (NYSE:HRTG) was the target of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 681,300 shares, a decline of 8.7% from the January 15th total of 746,600 shares. Based on an average daily trading volume, of 210,100 shares, the short-interest ratio is presently 3.2 days. Currently, 3.0% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Monday, November 25th.

Insider Buying and Selling

In other Heritage Insurance news, Director Nicholas George Pappas sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $12.64, for a total value of $50,560.00. Following the completion of the sale, the director now owns 76,314 shares of the company’s stock, valued at approximately $964,608.96. This represents a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 14.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Man Group plc acquired a new position in shares of Heritage Insurance in the fourth quarter valued at approximately $662,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Heritage Insurance in the fourth quarter valued at approximately $7,799,000. Graham Capital Management L.P. boosted its holdings in shares of Heritage Insurance by 213.7% in the fourth quarter. Graham Capital Management L.P. now owns 44,674 shares of the insurance provider’s stock valued at $541,000 after buying an additional 30,434 shares during the period. FJ Capital Management LLC acquired a new position in Heritage Insurance during the fourth quarter worth $212,000. Finally, Deutsche Bank AG boosted its holdings in Heritage Insurance by 23.7% during the fourth quarter. Deutsche Bank AG now owns 16,744 shares of the insurance provider’s stock worth $203,000 after purchasing an additional 3,208 shares during the last quarter. Institutional investors and hedge funds own 59.03% of the company’s stock.

Heritage Insurance Stock Down 2.1 %

Heritage Insurance stock opened at $12.40 on Wednesday. The stock has a market capitalization of $380.43 million, a PE ratio of 4.96 and a beta of 1.01. Heritage Insurance has a twelve month low of $6.14 and a twelve month high of $16.90. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average of $11.72 and a 200-day moving average of $12.30.

Heritage Insurance declared that its board has authorized a stock buyback plan on Monday, December 9th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the insurance provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.