Short Interest in Heritage Insurance Holdings, Inc. (NYSE:HRTG) Decreases By 13.6%

Heritage Insurance Holdings, Inc. (NYSE:HRTG) saw a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 950,400 shares, a decrease of 13.6% from the July 15th total of 1,100,000 shares. Based on an average trading volume of 401,700 shares, the days-to-cover ratio is currently 2.4 days. Currently, 4.2% of the company’s shares are short sold.

Insider Activity

In other news, CEO Ernie J. Garateix bought 5,000 shares of the stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $8.59 per share, with a total value of $42,950.00. Following the completion of the purchase, the chief executive officer now owns 1,072,584 shares of the company’s stock, valued at $9,213,496.56. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 14.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its stake in shares of Heritage Insurance by 226.3% during the 2nd quarter. Acadian Asset Management LLC now owns 410,515 shares of the insurance provider’s stock worth $2,903,000 after purchasing an additional 284,710 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Heritage Insurance by 265.3% during the first quarter. Assenagon Asset Management S.A. now owns 314,856 shares of the insurance provider’s stock worth $3,353,000 after acquiring an additional 228,655 shares in the last quarter. American Century Companies Inc. lifted its stake 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 valued at $3,064,000 after acquiring an additional 167,819 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Heritage Insurance by 45.7% in the 2nd quarter. Renaissance Technologies LLC now owns 436,099 shares of the insurance provider’s stock valued at $3,088,000 after acquiring an additional 136,800 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Heritage Insurance by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,414,585 shares of the insurance provider’s stock valued at $10,016,000 after acquiring an additional 96,923 shares during the period. 59.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Heritage Insurance from a “buy” rating to a “strong-buy” rating in a research report on Friday. Truist Financial increased their target price on Heritage Insurance from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Piper Sandler upgraded Heritage Insurance from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $9.00 to $13.00 in a report on Friday, August 9th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Heritage Insurance presently has a consensus rating of “Buy” and an average target price of $10.67.

Heritage Insurance Stock Up 4.4 %

Shares of HRTG stock traded up $0.62 during trading on Friday, reaching $14.63. The company’s stock had a trading volume of 1,145,537 shares, compared to its average volume of 427,002. Heritage Insurance has a one year low of $4.28 and a one year high of $15.04. The business has a fifty day moving average price of $7.92 and a 200-day moving average price of $8.23. The company has a market cap of $448.20 million, a price-to-earnings ratio of 8.92 and a beta of 0.90. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.52.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.38 by $0.23. The firm had revenue of $203.57 million for the quarter, compared to analysts’ expectations of $196.81 million. Heritage Insurance had a net margin of 6.07% and a return on equity of 24.02%. During the same period in the previous year, the firm posted $0.32 EPS. Analysts anticipate 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.