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

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. JMP Securities reissued a “market perform” rating on shares of Heritage Insurance in a report on Monday, April 15th. Piper Sandler reaffirmed a “neutral” rating and set a $9.00 target price on shares of Heritage Insurance in a report on Monday, April 1st. StockNews.com raised Heritage Insurance from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Finally, Truist Financial lifted their target price on Heritage Insurance from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Heritage Insurance currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Insider Activity

In other Heritage Insurance news, Director Paul L. Whiting purchased 20,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost of $8.14 per share, with a total value of $162,800.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $162,800. The purchase was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 3,800 shares of company stock valued at $28,943. Company insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Heritage Insurance

A number of institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. increased its stake in 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 purchasing an additional 228,655 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in Heritage Insurance during the 4th quarter worth about $40,000. Essex Investment Management Co. LLC boosted its position in Heritage Insurance by 11.2% during the 4th quarter. Essex Investment Management Co. LLC now owns 372,076 shares of the insurance provider’s stock worth $2,426,000 after acquiring an additional 37,581 shares during the period. Victory Capital Management Inc. boosted its position in Heritage Insurance by 13.0% during the 4th quarter. Victory Capital Management Inc. now owns 104,000 shares of the insurance provider’s stock worth $678,000 after acquiring an additional 12,000 shares during the period. Finally, Ritholtz Wealth Management boosted its position in Heritage Insurance by 232.0% during the 4th 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 during the period. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Heritage Insurance Trading Up 1.2 %

Shares of HRTG opened at $10.33 on Thursday. The business’s 50-day moving average price is $9.15 and its 200 day moving average price is $7.57. The stock has a market capitalization of $316.51 million, a P/E ratio of 6.01 and a beta of 0.90. Heritage Insurance has a 1-year low of $3.20 and a 1-year high of $11.23. 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 (NYSE:HRTG) last issued its quarterly earnings results on Monday, March 11th. The insurance provider reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.70. The firm had revenue of $186.97 million for the quarter, compared to analysts’ expectations of $185.11 million. Heritage Insurance had a return on equity of 26.69% and a net margin of 6.16%. Analysts expect that Heritage Insurance will post 1.52 earnings per share for the current year.

About Heritage Insurance

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.