HCI Group, Inc. (NYSE:HCI) Sees Large Increase in Short Interest

HCI Group, Inc. (NYSE:HCI) was the target of a large increase in short interest in December. As of December 15th, there was short interest totalling 1,080,000 shares, an increase of 8.0% from the November 30th total of 1,000,000 shares. Based on an average daily volume of 163,300 shares, the short-interest ratio is presently 6.6 days. Currently, 13.1% of the shares of the stock are short sold.

HCI Group Trading Up 1.2 %

Shares of HCI traded up $1.39 during trading hours on Wednesday, hitting $116.53. 128,673 shares of the stock were exchanged, compared to its average volume of 144,832. HCI Group has a fifty-two week low of $81.35 and a fifty-two week high of $126.50. The business has a 50-day moving average of $114.96 and a 200-day moving average of $103.51. The firm has a market capitalization of $1.23 billion, a P/E ratio of 9.74 and a beta of 1.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.47 and a quick ratio of 0.47.

HCI Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 15th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Friday, November 15th. HCI Group’s dividend payout ratio (DPR) is presently 13.37%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HCI. Point72 DIFC Ltd bought a new stake in HCI Group in the second quarter worth approximately $26,000. GAMMA Investing LLC increased its stake in shares of HCI Group by 80.9% in the 3rd quarter. GAMMA Investing LLC now owns 398 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 178 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of HCI Group by 49.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 911 shares of the insurance provider’s stock valued at $98,000 after acquiring an additional 300 shares during the period. CWM LLC boosted its stake in HCI Group by 34.2% during the third quarter. CWM LLC now owns 1,240 shares of the insurance provider’s stock worth $133,000 after acquiring an additional 316 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in HCI Group during the second quarter worth $201,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JMP Securities restated a “market outperform” rating and set a $145.00 price target on shares of HCI Group in a report on Tuesday, October 15th. Compass Point reissued a “neutral” rating and set a $120.00 target price (up from $119.00) on shares of HCI Group in a report on Monday, October 21st. Truist Financial reissued a “buy” rating and issued a $145.00 price objective on shares of HCI Group in a research note on Tuesday, December 17th. Finally, Oppenheimer lifted their target price on HCI Group from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, HCI Group has an average rating of “Moderate Buy” and an average price target of $140.00.

HCI Group Company Profile

HCI Group, Inc, together with its subsidiaries, engages in the property and casualty insurance, insurance management, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners, fire, flood, and wind-only insurance to homeowners, condominium owners, and tenants for properties, as well as offers reinsurance programs.