Heritage Insurance Holdings, Inc. (NYSE:HRTG) Short Interest Update

Heritage Insurance Holdings, Inc. (NYSE:HRTG) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 856,800 shares, a drop of 11.4% from the October 31st total of 966,900 shares. Currently, 3.8% of the shares of the company are sold short. Based on an average trading volume of 520,800 shares, the short-interest ratio is currently 1.6 days.

Insiders Place Their Bets

In other news, Director Nicholas George Pappas sold 4,000 shares of Heritage Insurance stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $12.64, for a total transaction of $50,560.00. Following the sale, the director now owns 76,314 shares of the company’s stock, valued at approximately $964,608.96. The trade was a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 14.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Heritage Insurance

Several large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its stake in shares of Heritage Insurance by 226.3% in the second quarter. Acadian Asset Management LLC now owns 410,515 shares of the insurance provider’s stock worth $2,903,000 after acquiring an additional 284,710 shares during the last quarter. American Century Companies Inc. boosted its holdings in Heritage Insurance by 63.3% in the second quarter. American Century Companies Inc. now owns 432,732 shares of the insurance provider’s stock worth $3,064,000 after purchasing an additional 167,819 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Heritage Insurance by 45.7% in the second quarter. Renaissance Technologies LLC now owns 436,099 shares of the insurance provider’s stock worth $3,088,000 after purchasing an additional 136,800 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in Heritage Insurance in the third quarter worth $1,541,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Heritage Insurance by 87.6% in the third quarter. Assenagon Asset Management S.A. now owns 235,019 shares of the insurance provider’s stock worth $2,877,000 after purchasing an additional 109,714 shares in the last quarter. 59.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HRTG has been the topic of a number of recent analyst reports. Piper Sandler raised Heritage Insurance from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $9.00 to $13.00 in a report on Friday, August 9th. StockNews.com upgraded shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. Finally, Truist Financial raised their price objective on shares of Heritage Insurance from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, August 8th.

Heritage Insurance Price Performance

Heritage Insurance stock traded down $0.24 during mid-day trading on Tuesday, hitting $12.12. The company’s stock had a trading volume of 142,501 shares, compared to its average volume of 453,698. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $371.84 million, a P/E ratio of 4.85 and a beta of 1.02. Heritage Insurance has a twelve month low of $5.51 and a twelve month high of $16.90. The stock’s fifty day moving average price is $11.60 and its two-hundred day moving average price is $10.71.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.25. The firm had revenue of $211.85 million for the quarter, compared to analyst estimates of $209.91 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. During the same quarter in the previous year, the business posted ($0.28) earnings per share. Research analysts forecast that Heritage Insurance will post 1.27 earnings per share for the current year.

Heritage Insurance Company Profile

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.