Ergoteles LLC Sells 104,759 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG)

Ergoteles LLC cut its stake in Heritage Insurance Holdings, Inc. (NYSE:HRTGGet Rating) by 83.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,141 shares of the insurance provider’s stock after selling 104,759 shares during the period. Ergoteles LLC owned about 0.08% of Heritage Insurance worth $46,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rutabaga Capital Management LLC MA purchased a new position in shares of Heritage Insurance during the third quarter worth approximately $2,843,000. Herold Advisors Inc. lifted its holdings in shares of Heritage Insurance by 64.3% in the 3rd quarter. Herold Advisors Inc. now owns 23,000 shares of the insurance provider’s stock worth $51,000 after buying an additional 9,000 shares during the period. Unison Advisors LLC increased its stake in shares of Heritage Insurance by 34.2% during the third quarter. Unison Advisors LLC now owns 33,365 shares of the insurance provider’s stock valued at $76,000 after buying an additional 8,497 shares during the period. Goldman Sachs Group Inc. increased its position in Heritage Insurance by 77.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 225,575 shares of the insurance provider’s stock valued at $595,000 after purchasing an additional 98,321 shares during the period. Finally, Corton Capital Inc. purchased a new stake in shares of Heritage Insurance in the 2nd quarter worth approximately $34,000. Institutional investors own 49.29% of the company’s stock.

Heritage Insurance Price Performance

Shares of NYSE HRTG opened at $3.68 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market cap of $95.24 million, a PE ratio of -0.63 and a beta of 0.76. The business has a 50-day simple moving average of $2.41 and a two-hundred day simple moving average of $2.13. Heritage Insurance Holdings, Inc. has a fifty-two week low of $1.12 and a fifty-two week high of $7.37.

Insiders Place Their Bets

In other news, major shareholder Raymond T. Hyer bought 202,460 shares of the firm’s stock in a transaction that occurred on Monday, February 13th. The stock was purchased at an average price of $1.96 per share, with a total value of $396,821.60. Following the completion of the acquisition, the insider now directly owns 2,811,115 shares of the company’s stock, valued at approximately $5,509,785.40. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HRTG shares. Piper Sandler cut Heritage Insurance from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $4.30 to $2.20 in a research report on Monday, February 13th. JMP Securities reduced their price objective on shares of Heritage Insurance from $4.00 to $3.00 and set a “market outperform” rating for the company in a research note on Tuesday, January 17th. raised Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Friday, March 3rd. Finally, Truist Financial raised their price target on Heritage Insurance from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.40.

About Heritage Insurance

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Heritage Insurance Holdings, Inc engages in the provision of personal and residential premium, property, and casualty insurance policies. It offers personal residential insurance for single-family homeowners and condominium owners, rental property insurance, and commercial residential insurance. The company was founded in August 2012 and is headquartered in Tampa, FL.

Further Reading

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Institutional Ownership by Quarter for Heritage Insurance (NYSE:HRTG)

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