Short Interest in Heritage Insurance Holdings, Inc. (NYSE:HRTG) Decreases By 17.8%

Heritage Insurance Holdings, Inc. (NYSE:HRTG) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totaling 1,324,469 shares, a decline of 17.8% from the December 15th total of 1,612,152 shares. Based on an average daily trading volume, of 253,022 shares, the days-to-cover ratio is currently 5.2 days. Approximately 5.0% of the company’s stock are sold short. Approximately 5.0% of the company’s stock are sold short. Based on an average daily trading volume, of 253,022 shares, the days-to-cover ratio is currently 5.2 days.

Heritage Insurance Trading Up 1.2%

Shares of HRTG stock opened at $26.15 on Monday. Heritage Insurance has a twelve month low of $9.89 and a twelve month high of $31.98. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $28.38 and its two-hundred day moving average is $25.08. The company has a market capitalization of $808.30 million, a P/E ratio of 5.41 and a beta of 0.98.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $1.10. The firm had revenue of $212.46 million for the quarter, compared to analyst estimates of $210.12 million. Heritage Insurance had a net margin of 17.72% and a return on equity of 41.44%. Equities analysts forecast that Heritage Insurance will post 1.86 EPS for the current year.

Insider Buying and Selling

In other Heritage Insurance news, Chairman Richard A. Widdicombe sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $29.40, for a total transaction of $1,470,000.00. Following the completion of the transaction, the chairman owned 449,047 shares in the company, valued at $13,201,981.80. The trade was a 10.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ernie J. Garateix sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $29.10, for a total transaction of $291,000.00. Following the completion of the sale, the chief executive officer owned 1,219,140 shares in the company, valued at $35,476,974. The trade was a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 124,999 shares of company stock worth $3,528,374 over the last 90 days. 15.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Heritage Insurance

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Heritage Insurance by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider’s stock valued at $196,000 after buying an additional 546 shares during the period. Millennium Management LLC raised its position in Heritage Insurance by 39.8% in the first quarter. Millennium Management LLC now owns 322,957 shares of the insurance provider’s stock worth $4,657,000 after acquiring an additional 91,982 shares in the last quarter. Empowered Funds LLC lifted its holdings in Heritage Insurance by 8.4% in the first quarter. Empowered Funds LLC now owns 124,859 shares of the insurance provider’s stock valued at $1,800,000 after acquiring an additional 9,728 shares during the period. Strs Ohio purchased a new stake in shares of Heritage Insurance during the 1st quarter worth $127,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Heritage Insurance during the 2nd quarter worth $2,499,000. Institutional investors and hedge funds own 59.03% of the company’s stock.

Analysts Set New Price Targets

HRTG has been the subject of a number of research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Heritage Insurance in a research report on Monday, December 29th. Zacks Research lowered Heritage Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Truist Financial boosted their price objective on Heritage Insurance from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.50.

About Heritage Insurance

Heritage Insurance Holdings, Inc (NYSE: HRTG) is a property and casualty insurance holding company that offers homeowners insurance and related coverage products in the United States. Through its primary subsidiary, Heritage Property & Casualty Insurance Company, the firm underwrites standard and non-standard personal lines insurance, including homeowners, dwelling fire, flood, and condominium policies. Heritage leverages a network of independent insurance agents to distribute its products across select regional markets, with an emphasis on serving property owners in areas prone to severe weather events.

Founded in 2011 and headquartered in Jupiter, Florida, Heritage Insurance has grown to become one of the leading providers of residential property insurance in the state.