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

Heritage Insurance Holdings, Inc. (NYSE:HRTG) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 966,900 shares, a decrease of 7.0% from the October 15th total of 1,040,000 shares. Approximately 4.3% of the company’s stock are short sold. Based on an average daily volume of 610,900 shares, the short-interest ratio is currently 1.6 days.

Analyst Upgrades and Downgrades

Several research firms recently commented on HRTG. Piper Sandler upgraded shares of Heritage Insurance from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $9.00 to $13.00 in a report on Friday, August 9th. Truist Financial lifted their target price 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. Finally, StockNews.com raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Saturday.

Heritage Insurance Price Performance

Shares of HRTG opened at $12.11 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $371.53 million, a PE ratio of 4.87 and a beta of 0.98. The firm’s 50 day moving average price is $12.31 and its 200 day moving average price is $10.43. Heritage Insurance has a twelve month low of $5.51 and a twelve month high of $16.90.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.25. The business had revenue of $211.85 million for the quarter, compared to the consensus estimate 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 last year, the firm earned ($0.28) EPS. As a group, research analysts expect that Heritage Insurance will post 1.27 EPS for the current fiscal year.

Institutional Trading of Heritage Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new stake in shares of Heritage Insurance in the third quarter worth $49,000. Innealta Capital LLC acquired a new position in Heritage Insurance during the 2nd quarter worth $30,000. Valmark Advisers Inc. bought a new stake in Heritage Insurance during the second quarter valued at about $80,000. MetLife Investment Management LLC grew its position in shares of Heritage Insurance by 129.1% in the third quarter. MetLife Investment Management LLC now owns 13,391 shares of the insurance provider’s stock valued at $164,000 after purchasing an additional 7,545 shares during the last quarter. Finally, Sei Investments Co. bought a new position in shares of Heritage Insurance in the second quarter worth about $102,000. Institutional investors and hedge funds own 59.03% of the company’s stock.

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.