Short Interest in Heritage Insurance Holdings, Inc. (NYSE:HRTG) Grows By 30.1%

Heritage Insurance Holdings, Inc. (NYSE:HRTG) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 254,800 shares, a growth of 30.1% from the August 15th total of 195,900 shares. Approximately 1.4% of the company’s shares are short sold. Based on an average trading volume of 159,100 shares, the short-interest ratio is currently 1.6 days.

Institutional Trading of Heritage Insurance

A number of large investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC purchased a new stake in Heritage Insurance in the 3rd quarter worth approximately $25,000. Atria Wealth Solutions Inc. acquired a new position in Heritage Insurance in the 2nd quarter valued at $29,000. Charles Schwab Investment Management Inc. acquired a new stake in Heritage Insurance in the 1st quarter worth $31,000. Farmers Trust Co. acquired a new stake in Heritage Insurance in the 1st quarter worth $34,000. Finally, Independent Advisor Alliance bought a new position in shares of Heritage Insurance during the 1st quarter worth about $38,000. 31.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HRTG has been the topic of a number of research analyst reports. Piper Sandler cut their target price on Heritage Insurance from $4.25 to $4.15 in a research report on Thursday, July 6th. JMP Securities lifted their price objective on Heritage Insurance from $5.00 to $6.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 10th. Finally, StockNews.com cut shares of Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research note on Friday.

Heritage Insurance Trading Up 1.9 %

Heritage Insurance stock opened at $5.23 on Monday. The firm has a 50 day simple moving average of $4.82 and a 200-day simple moving average of $4.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $133.68 million, a PE ratio of -10.46 and a beta of 0.72. Heritage Insurance has a 12-month low of $1.12 and a 12-month high of $6.09.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Tuesday, August 8th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.27. The business had revenue of $185.31 million during the quarter, compared to analysts’ expectations of $168.53 million. Heritage Insurance had a negative net margin of 1.99% and a negative return on equity of 9.51%. As a group, equities research analysts expect that Heritage Insurance will post 1.17 EPS for the current fiscal year.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential property insurance for single-family homeowners and condominium owners; and rental property insurance in the states of 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.