Heritage Insurance Holdings, Inc. (NYSE:HRTG) Short Interest Up 25.2% in June

Heritage Insurance Holdings, Inc. (NYSE:HRTG) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 958,600 shares, an increase of 25.2% from the May 31st total of 765,600 shares. Based on an average daily trading volume, of 376,300 shares, the days-to-cover ratio is currently 2.5 days. Currently, 4.3% of the company’s shares are sold short.

Insider Buying and Selling at Heritage Insurance

In other Heritage Insurance news, CEO Ernie J. Garateix acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average cost of $8.21 per share, for a total transaction of $41,050.00. Following the completion of the transaction, the chief executive officer now owns 1,067,584 shares of the company’s stock, valued at approximately $8,764,864.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Paul L. Whiting purchased 50,000 shares of the stock in a transaction dated Monday, May 6th. The stock was acquired at an average cost of $8.35 per share, for a total transaction of $417,500.00. Following the completion of the transaction, the director now directly owns 59,662 shares in the company, valued at approximately $498,177.70. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ernie J. Garateix acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average price of $8.21 per share, for a total transaction of $41,050.00. Following the acquisition, the chief executive officer now directly owns 1,067,584 shares in the company, valued at approximately $8,764,864.64. The disclosure for this purchase can be found here. Insiders purchased a total of 60,000 shares of company stock worth $497,250 in the last three months. 14.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Heritage Insurance

A number of hedge funds have recently modified their holdings of HRTG. Tower Research Capital LLC TRC purchased a new stake in shares of Heritage Insurance during the fourth quarter worth approximately $40,000. Fortis Capital Advisors LLC purchased a new position in Heritage Insurance during the 1st quarter worth $134,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Heritage Insurance in the 1st quarter worth $155,000. Quadrature Capital Ltd purchased a new stake in shares of Heritage Insurance in the third quarter valued at about $109,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in shares of Heritage Insurance during the third quarter worth about $172,000. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HRTG. Truist Financial upped their price target on Heritage Insurance from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. StockNews.com raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Piper Sandler reiterated a “neutral” rating and set a $9.00 price target on shares of Heritage Insurance in a report on Monday, April 1st. Finally, JMP Securities restated a “market perform” rating on shares of Heritage Insurance in a report on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Heritage Insurance has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Heritage Insurance Stock Down 4.3 %

HRTG stock traded down $0.29 during midday trading on Tuesday, reaching $6.49. 180,976 shares of the company were exchanged, compared to its average volume of 417,535. The stock’s 50-day simple moving average is $8.43 and its 200 day simple moving average is $7.83. Heritage Insurance has a 1-year low of $3.82 and a 1-year high of $11.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $198.85 million, a price-to-earnings ratio of 3.99 and a beta of 0.90.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.14). Heritage Insurance had a return on equity of 24.02% and a net margin of 6.07%. The firm had revenue of $191.30 million for the quarter, compared to analysts’ expectations of $189.05 million. During the same period in the previous year, the business posted $0.55 EPS. On average, equities analysts forecast that Heritage Insurance will post 1.45 earnings per share for the current year.

About Heritage Insurance

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential insurance in 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.