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

Heritage Insurance Holdings, Inc. (NYSE:HRTG) saw a significant growth in short interest in June. As of June 15th, there was short interest totalling 958,600 shares, a growth of 25.2% from the May 31st total of 765,600 shares. Currently, 4.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 376,300 shares, the short-interest ratio is currently 2.5 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. 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 boosted their target price on Heritage Insurance from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. StockNews.com upgraded Heritage Insurance from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Finally, JMP Securities restated a “market perform” rating on shares of Heritage Insurance in a report on Monday, April 15th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Heritage Insurance Trading Down 4.4 %

Shares of HRTG opened at $6.77 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $207.43 million, a price-to-earnings ratio of 4.13 and a beta of 0.90. The company has a 50-day moving average of $8.43 and a 200 day moving average of $7.83. Heritage Insurance has a 1-year low of $3.82 and a 1-year high of $11.23.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.14). The company had revenue of $191.30 million for the quarter, compared to the consensus estimate of $189.05 million. Heritage Insurance had a net margin of 6.07% and a return on equity of 24.02%. During the same period in the prior year, the firm posted $0.55 EPS. On average, research analysts expect that Heritage Insurance will post 1.45 EPS for the current year.

Insider Activity at Heritage Insurance

In other news, Director Paul L. Whiting acquired 50,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average cost of $8.35 per share, with a total value of $417,500.00. Following the acquisition, the director now directly owns 59,662 shares of the company’s stock, valued at $498,177.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Heritage Insurance news, Director Paul L. Whiting bought 50,000 shares of Heritage Insurance stock in a transaction dated Monday, May 6th. The shares were purchased at an average cost of $8.35 per share, for a total transaction of $417,500.00. Following the acquisition, the director now directly owns 59,662 shares in the company, valued at approximately $498,177.70. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Nicholas George Pappas sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $8.56, for a total value of $51,360.00. Following the sale, the director now owns 75,400 shares in the company, valued at $645,424. The disclosure for this sale can be found here. Over the last three months, insiders bought 60,000 shares of company stock valued at $497,250. Insiders own 14.00% of the company’s stock.

Institutional Investors Weigh In On Heritage Insurance

Institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new position in shares of Heritage Insurance during the 4th quarter worth $40,000. Quadrature Capital Ltd purchased a new stake in Heritage Insurance in the third quarter worth about $109,000. Fortis Capital Advisors LLC bought a new position in Heritage Insurance during the 1st quarter worth about $134,000. Susquehanna Fundamental Investments LLC bought a new position in Heritage Insurance during the 1st quarter worth about $155,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in Heritage Insurance during the 3rd quarter valued at about $172,000. 59.03% of the stock is owned by institutional investors.

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.