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

Heritage Insurance Holdings, Inc. (NYSE:HRTG) saw a significant increase in short interest in April. As of April 15th, there was short interest totalling 845,500 shares, an increase of 8.5% from the March 31st total of 779,200 shares. Currently, 3.8% of the shares of the stock are sold short. Based on an average daily volume of 401,500 shares, the days-to-cover ratio is currently 2.1 days.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HRTG. StockNews.com raised Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Thursday, March 21st. Piper Sandler reaffirmed a “neutral” rating and set a $9.00 price target on shares of Heritage Insurance in a research note on Monday, April 1st. Truist Financial upped their price target on Heritage Insurance from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Heritage Insurance in a research note on Monday, April 15th. Two research 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Insiders Place Their Bets

In other Heritage Insurance news, Director Paul L. Whiting acquired 20,000 shares of Heritage Insurance stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $8.14 per share, with a total value of $162,800.00. Following the completion of the purchase, 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 hyperlink. Over the last quarter, insiders have sold 3,800 shares of company stock valued at $28,943. 11.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Heritage Insurance

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC bought a new stake in shares of Heritage Insurance in the fourth quarter worth about $40,000. Quadrature Capital Ltd bought a new stake in shares of Heritage Insurance in the third quarter worth about $109,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Heritage Insurance in the third quarter worth about $172,000. Ritholtz Wealth Management increased its holdings in shares of Heritage Insurance by 232.0% in the fourth quarter. Ritholtz Wealth Management now owns 34,097 shares of the insurance provider’s stock worth $222,000 after acquiring an additional 23,826 shares in the last quarter. Finally, Jump Financial LLC increased its holdings in shares of Heritage Insurance by 137.4% in the third quarter. Jump Financial LLC now owns 48,188 shares of the insurance provider’s stock worth $313,000 after acquiring an additional 27,888 shares in the last quarter. Institutional investors own 59.03% of the company’s stock.

Heritage Insurance Trading Up 1.2 %

NYSE HRTG opened at $10.33 on Thursday. The stock has a 50-day simple moving average of $9.15 and a 200 day simple moving average of $7.57. The company has a market capitalization of $316.51 million, a PE ratio of 6.01 and a beta of 0.90. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.54. Heritage Insurance has a 12 month low of $3.20 and a 12 month high of $11.23.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings data on Monday, March 11th. The insurance provider reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.70. The business had revenue of $186.97 million during the quarter, compared to the consensus estimate of $185.11 million. Heritage Insurance had a return on equity of 26.69% and a net margin of 6.16%. Research analysts forecast that Heritage Insurance will post 1.52 EPS for the current year.

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.