GAMMA Investing LLC Acquires 7,866 Shares of Hippo Holdings Inc. (NYSE:HIPO)

GAMMA Investing LLC increased its holdings in Hippo Holdings Inc. (NYSE:HIPO) by 4,916.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,026 shares of the company’s stock after buying an additional 7,866 shares during the period. GAMMA Investing LLC’s holdings in Hippo were worth $2,050,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Public Employees Retirement System of Ohio boosted its holdings in Hippo by 13.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 11,736 shares of the company’s stock valued at $314,000 after purchasing an additional 1,400 shares during the period. Sphera Management Technology Funds Ltd bought a new position in Hippo in the 4th quarter valued at $1,017,000. Two Sigma Advisers LP bought a new position in Hippo in the 4th quarter valued at $200,000. Two Sigma Investments LP bought a new position in Hippo in the 4th quarter valued at $259,000. Finally, Sherbrooke Park Advisers LLC bought a new position in Hippo in the 4th quarter valued at $296,000. 43.01% of the stock is owned by institutional investors.

Hippo Stock Down 4.4%

HIPO opened at $28.27 on Friday. The business’s fifty day simple moving average is $23.93 and its 200 day simple moving average is $26.40. Hippo Holdings Inc. has a 52 week low of $14.58 and a 52 week high of $35.44. The stock has a market cap of $711.24 million, a PE ratio of -5.43 and a beta of 1.48.

Hippo (NYSE:HIPO) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($1.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.50). Hippo had a negative return on equity of 36.38% and a negative net margin of 37.94%. The firm had revenue of $110.30 million for the quarter, compared to the consensus estimate of $106.70 million. As a group, equities analysts anticipate that Hippo Holdings Inc. will post -3.63 earnings per share for the current year.

Insiders Place Their Bets

In other Hippo news, CEO Torben Ostergaard sold 4,889 shares of Hippo stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $24.61, for a total transaction of $120,318.29. Following the completion of the sale, the chief executive officer now owns 66,793 shares of the company’s stock, valued at $1,643,775.73. The trade was a 6.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 11.37% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Hippo from $24.00 to $26.00 and gave the company a “market perform” rating in a report on Tuesday, April 22nd. Jefferies Financial Group cut their price target on shares of Hippo from $43.00 to $30.00 and set a “buy” rating for the company in a report on Friday, April 11th.

Hippo Profile

Hippo Holdings Inc provides property and casualty insurance products to individuals and business customers primarily in the United States. The company operates through three segments: Services, Insurance-as-a-Service, and Hippo Home Insurance Program. Its insurance products include homeowners' insurance against risks of fire, wind, and theft, as well as other personal lines policies from third party carriers; and personal and commercial, as well as home, auto, cyber, small business, life, specialty lines, and other insurance products.