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

Heritage Insurance Holdings, Inc. (NYSE:HRTGGet Free Report) saw a large drop in short interest in April. As of April 30th, there was short interest totalling 787,400 shares, a drop of 6.9% from the April 15th total of 845,500 shares. Based on an average trading volume of 443,100 shares, the days-to-cover ratio is currently 1.8 days. Approximately 3.5% of the shares of the company are short sold.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JMP Securities reissued a “market perform” rating on shares of Heritage Insurance in a report on Monday, April 15th. Piper Sandler reissued a “neutral” rating and issued a $9.00 price target on shares of Heritage Insurance in a report on Monday, April 1st. Truist Financial raised their price target on Heritage Insurance from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, StockNews.com raised Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Two investment 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, Heritage Insurance currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Read Our Latest Stock Analysis on Heritage Insurance

Heritage Insurance Stock Up 2.6 %

Shares of Heritage Insurance stock opened at $9.45 on Friday. The business’s fifty day moving average price is $9.57 and its two-hundred day moving average price is $7.82. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $289.55 million, a P/E ratio of 5.76 and a beta of 0.92. Heritage Insurance has a 1-year low of $3.73 and a 1-year high of $11.23.

Heritage Insurance (NYSE:HRTGGet Free Report) last announced its earnings results on Wednesday, May 1st. The insurance provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.14). The business had revenue of $191.30 million for the quarter, compared to the consensus estimate of $189.05 million. Heritage Insurance had a net margin of 6.07% and a return on equity of 24.02%. During the same period in the previous year, the firm earned $0.55 EPS. As a group, research analysts forecast that Heritage Insurance will post 1.45 EPS for the current year.

Insider Transactions at Heritage Insurance

In other news, Director Paul L. Whiting bought 20,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $8.14 per share, for a total transaction of $162,800.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $162,800. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Ernie J. Garateix purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were acquired at an average price of $8.21 per share, with a total value of $41,050.00. Following the acquisition, the chief executive officer now owns 1,067,584 shares in the company, valued at approximately $8,764,864.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Paul L. Whiting purchased 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $8.14 per share, for a total transaction of $162,800.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at approximately $162,800. The disclosure for this purchase can be found here. In the last quarter, insiders bought 75,000 shares of company stock worth $621,350 and sold 8,300 shares worth $71,408. Insiders own 11.90% of the company’s stock.

Institutional Trading of Heritage Insurance

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC raised its stake in shares of Heritage Insurance by 110.3% in the 3rd quarter. Acadian Asset Management LLC now owns 376,832 shares of the insurance provider’s stock worth $2,444,000 after buying an additional 197,656 shares in the last quarter. Essex Investment Management Co. LLC raised its stake in shares of Heritage Insurance by 11.2% in the 4th quarter. Essex Investment Management Co. LLC now owns 372,076 shares of the insurance provider’s stock worth $2,426,000 after buying an additional 37,581 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Heritage Insurance by 265.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 314,856 shares of the insurance provider’s stock worth $3,353,000 after buying an additional 228,655 shares in the last quarter. EAM Investors LLC bought a new stake in shares of Heritage Insurance in the 3rd quarter worth $1,912,000. Finally, Legato Capital Management LLC raised its stake in shares of Heritage Insurance by 20.2% in the 4th quarter. Legato Capital Management LLC now owns 149,980 shares of the insurance provider’s stock worth $978,000 after buying an additional 25,155 shares in the last quarter. Institutional investors own 59.03% of the company’s stock.

About Heritage Insurance

(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.

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