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

Heritage Insurance Holdings, Inc. (NYSE:HRTGGet Free Report) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 458,100 shares, an increase of 7.8% from the February 29th total of 424,800 shares. Approximately 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 406,300 shares, the days-to-cover ratio is currently 1.1 days.

Heritage Insurance Trading Up 3.2 %

Shares of HRTG opened at $10.99 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $332.12 million, a P/E ratio of 6.39 and a beta of 0.89. The stock’s fifty day simple moving average is $7.40 and its 200 day simple moving average is $6.90. Heritage Insurance has a twelve month low of $2.85 and a twelve month high of $11.23.

Insider Buying and Selling at Heritage Insurance

In related news, Director Paul L. Whiting bought 20,000 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased at an average price 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 $162,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HRTG. Cubist Systematic Strategies LLC purchased a new position in Heritage Insurance in the third quarter valued at about $25,000. Atria Wealth Solutions Inc. purchased a new position in Heritage Insurance in the second quarter valued at about $29,000. Charles Schwab Investment Management Inc. purchased a new position in Heritage Insurance in the first quarter valued at about $31,000. Lazard Asset Management LLC purchased a new position in Heritage Insurance in the third quarter valued at about $33,000. Finally, Prudential Financial Inc. purchased a new position in Heritage Insurance in the first quarter valued at about $39,000. 59.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HRTG. StockNews.com upgraded Heritage Insurance from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Piper Sandler restated a “neutral” rating and set a $9.00 price objective on shares of Heritage Insurance in a report on Monday. JMP Securities reaffirmed a “market perform” rating on shares of Heritage Insurance in a research report on Wednesday, March 13th. Finally, Truist Financial increased their target price on Heritage Insurance from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $9.00.

Get Our Latest Analysis on HRTG

Heritage Insurance Company Profile

(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.

Further Reading

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