Hippo Holdings Inc. (NYSE:HIPO) Sees Significant Growth in Short Interest

Hippo Holdings Inc. (NYSE:HIPO) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 569,440 shares, an increase of 20.3% from the December 15th total of 473,218 shares. Currently, 2.5% of the shares of the stock are sold short. Based on an average daily volume of 171,481 shares, the days-to-cover ratio is currently 3.3 days. Based on an average daily volume of 171,481 shares, the days-to-cover ratio is currently 3.3 days. Currently, 2.5% of the shares of the stock are sold short.

Insider Buying and Selling

In other Hippo news, CEO Richard Mccathron sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $31.52, for a total value of $157,600.00. Following the sale, the chief executive officer owned 447,704 shares of the company’s stock, valued at $14,111,630.08. This trade represents a 1.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Stienstra sold 3,900 shares of Hippo stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $31.12, for a total value of $121,368.00. Following the sale, the insider owned 71,281 shares of the company’s stock, valued at approximately $2,218,264.72. This trade represents a 5.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 15,719 shares of company stock worth $486,567. Corporate insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Hippo

Institutional investors have recently bought and sold shares of the stock. Spire Wealth Management bought a new position in Hippo during the 4th quarter worth approximately $324,000. SG Americas Securities LLC grew its holdings in shares of Hippo by 11.7% in the fourth quarter. SG Americas Securities LLC now owns 10,135 shares of the company’s stock worth $305,000 after purchasing an additional 1,058 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Hippo by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 213,658 shares of the company’s stock worth $7,726,000 after buying an additional 5,186 shares during the period. Tudor Investment Corp ET AL purchased a new position in shares of Hippo in the third quarter worth $963,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Hippo during the 3rd quarter valued at $5,842,000. 43.01% of the stock is currently owned by hedge funds and other institutional investors.

Hippo Price Performance

Shares of Hippo stock opened at $30.18 on Wednesday. Hippo has a 52-week low of $19.92 and a 52-week high of $38.98. The stock has a market capitalization of $764.43 million, a price-to-earnings ratio of 8.34 and a beta of 1.57. The company has a fifty day moving average of $31.22 and a 200-day moving average of $32.20. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.94 and a current ratio of 0.94.

Hippo (NYSE:HIPO) last issued its earnings results on Tuesday, November 4th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. Hippo had a net margin of 21.30% and a negative return on equity of 5.89%. The company had revenue of $120.60 million for the quarter, compared to analysts’ expectations of $117.75 million. Equities research analysts expect that Hippo will post -3.63 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on HIPO. Weiss Ratings reissued a “sell (d-)” rating on shares of Hippo in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Hippo from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Citigroup reiterated an “outperform” rating on shares of Hippo in a research report on Tuesday, October 14th. JMP Securities set a $45.00 target price on Hippo and gave the company a “market outperform” rating in a research note on Tuesday, October 14th. Finally, Zacks Research raised Hippo from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Hippo currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

About Hippo

Hippo Enterprises Inc is a technology-driven home insurance company that offers modernized homeowners insurance products through a digital-first platform. Leveraging data analytics, artificial intelligence and smart home devices, the company designs tailored coverage plans intended to streamline the underwriting process and deliver more comprehensive protection for homeowners. Hippo’s policies typically include standard dwelling coverage, personal property protection and liability insurance, along with optional add-ons such as water backup, home computer systems and equipment breakdown coverage.

Through its online portal and partner network of licensed insurance agents, Hippo provides policyholders with a range of services aimed at minimizing risk and preventing losses before they occur.