Boothbay Fund Management LLC Has $2.20 Million Stake in Hippo Holdings Inc. $HIPO

Boothbay Fund Management LLC lifted its position in Hippo Holdings Inc. (NYSE:HIPO) by 500.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,795 shares of the company’s stock after buying an additional 50,677 shares during the quarter. Boothbay Fund Management LLC owned about 0.24% of Hippo worth $2,198,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in Hippo in the second quarter worth approximately $33,000. AlphaQuest LLC lifted its stake in shares of Hippo by 109.5% in the 3rd quarter. AlphaQuest LLC now owns 1,251 shares of the company’s stock valued at $45,000 after purchasing an additional 654 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in Hippo by 12.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,481 shares of the company’s stock worth $125,000 after purchasing an additional 489 shares in the last quarter. State of Wyoming bought a new stake in Hippo in the second quarter worth $127,000. Finally, Strs Ohio acquired a new position in Hippo during the third quarter worth $159,000. Institutional investors and hedge funds own 43.01% of the company’s stock.

Analysts Set New Price Targets

HIPO has been the topic of several recent research reports. Zacks Research upgraded Hippo to a “hold” rating in a report on Tuesday, March 3rd. Keefe, Bruyette & Woods decreased their price target on Hippo from $34.00 to $33.00 and set a “market perform” rating for the company in a research note on Friday, March 6th. Finally, Weiss Ratings raised Hippo from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, March 5th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.25.

Hippo Stock Performance

NYSE:HIPO opened at $25.63 on Tuesday. Hippo Holdings Inc. has a 1 year low of $19.92 and a 1 year high of $38.98. The firm’s fifty day simple moving average is $29.01 and its 200 day simple moving average is $32.12. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $665.71 million, a PE ratio of 11.98 and a beta of 1.57.

Insider Activity

In other news, insider Michael Stienstra sold 3,900 shares of Hippo stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $31.12, for a total value of $121,368.00. Following the transaction, the insider directly owned 71,281 shares in the company, valued at approximately $2,218,264.72. The trade was a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard Mccathron sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $25.86, for a total value of $129,300.00. Following the completion of the sale, the chief executive officer directly owned 615,650 shares in the company, valued at $15,920,709. This trade represents a 0.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 25,605 shares of company stock valued at $746,652. 10.80% of the stock is owned by insiders.

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.