Hippo (NYSE:HIPO) Shares Scheduled to Reverse Split on Friday, September 30th

Hippo Holdings Inc. (NYSE:HIPOGet Rating) shares are going to reverse split before the market opens on Friday, September 30th. The 1-25 reverse split was announced on Friday, September 30th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, September 30th.

Hippo Stock Down 0.9 %

Hippo stock opened at $0.83 on Thursday. The stock has a market cap of $476.49 million, a price-to-earnings ratio of -1.89 and a beta of 0.56. Hippo has a 12 month low of $0.73 and a 12 month high of $5.09. The business has a 50 day moving average price of $0.90 and a two-hundred day moving average price of $1.31.

Hippo (NYSE:HIPOGet Rating) last issued its earnings results on Thursday, August 11th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The firm had revenue of $28.70 million during the quarter, compared to the consensus estimate of $31.00 million. Hippo had a negative return on equity of 27.99% and a negative net margin of 218.29%. On average, analysts expect that Hippo will post -0.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Morgan Stanley dropped their price target on shares of Hippo from $3.76 to $2.06 and set an “overweight” rating for the company in a research report on Friday, August 19th.

Institutional Investors Weigh In On Hippo

A number of hedge funds have recently made changes to their positions in the company. ETF Managers Group LLC acquired a new position in Hippo in the fourth quarter valued at about $25,000. ProShare Advisors LLC bought a new stake in shares of Hippo during the second quarter worth $25,000. Vivaldi Capital Management LP acquired a new stake in shares of Hippo during the fourth quarter worth $28,000. IPG Investment Advisors LLC acquired a new position in Hippo in the 4th quarter worth $32,000. Finally, Royal Bank of Canada bought a new position in shares of Hippo during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 39.77% of the company’s stock.

About Hippo

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Hippo Holdings Inc provides home protection insurance in the United States and the District of Columbia. Its insurance products include homeowners' insurance against risks of fire, wind, and theft; and commercial and personal lines of products. The company distributes insurance products and services through its technology platform; and offers its policies online, over the phone, or through licensed insurance agents.

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