HCI Group, Inc. (NYSE:HCI) Sees Significant Growth in Short Interest

HCI Group, Inc. (NYSE:HCI) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 1,380,000 shares, an increase of 27.8% from the December 31st total of 1,080,000 shares. Approximately 16.7% of the shares of the company are short sold. Based on an average daily volume of 135,400 shares, the short-interest ratio is currently 10.2 days.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $145.00 price target on shares of HCI Group in a research report on Tuesday, October 15th. Oppenheimer boosted their price target on shares of HCI Group from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Truist Financial restated a “buy” rating and issued a $145.00 price objective on shares of HCI Group in a research report on Tuesday, December 17th. Finally, Compass Point reissued a “neutral” rating and issued a $120.00 target price (up previously from $119.00) on shares of HCI Group in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System grew its holdings in shares of HCI Group by 1.0% during the 4th quarter. New York State Teachers Retirement System now owns 10,493 shares of the insurance provider’s stock worth $1,223,000 after acquiring an additional 100 shares during the period. GAMMA Investing LLC lifted its stake in shares of HCI Group by 28.4% in the fourth quarter. GAMMA Investing LLC now owns 511 shares of the insurance provider’s stock worth $60,000 after buying an additional 113 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of HCI Group by 2.9% during the second quarter. Thrivent Financial for Lutherans now owns 6,088 shares of the insurance provider’s stock valued at $561,000 after buying an additional 174 shares during the last quarter. Point72 DIFC Ltd increased its position in shares of HCI Group by 75.0% during the third quarter. Point72 DIFC Ltd now owns 497 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 213 shares in the last quarter. Finally, Amalgamated Bank increased its position in shares of HCI Group by 10.3% during the third quarter. Amalgamated Bank now owns 2,413 shares of the insurance provider’s stock valued at $258,000 after acquiring an additional 225 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

HCI Group Trading Down 0.4 %

Shares of HCI traded down $0.45 during trading hours on Friday, hitting $121.89. The company had a trading volume of 69,505 shares, compared to its average volume of 112,751. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.40. HCI Group has a 52-week low of $83.64 and a 52-week high of $126.50. The stock’s 50 day moving average price is $117.10 and its 200 day moving average price is $107.88. The firm has a market cap of $1.28 billion, a P/E ratio of 10.18 and a beta of 1.13.

HCI Group (NYSE:HCI) last posted its earnings results on Thursday, November 7th. The insurance provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.08. The company had revenue of $175.32 million during the quarter, compared to analyst estimates of $192.08 million. HCI Group had a net margin of 19.37% and a return on equity of 34.17%. During the same period in the prior year, the business posted $1.41 earnings per share. On average, research analysts predict that HCI Group will post 6.78 EPS for the current year.

About HCI Group

HCI Group, Inc, together with its subsidiaries, engages in the property and casualty insurance, insurance management, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners, fire, flood, and wind-only insurance to homeowners, condominium owners, and tenants for properties, as well as offers reinsurance programs.