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

Heritage Insurance Holdings, Inc. (NYSE:HRTGGet Free Report) 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, cut shares of Heritage Insurance from a “strong-buy” rating to a “buy” rating in a research note on Friday.

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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:HRTGGet Free Report) 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

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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.

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