Heritage Insurance Holdings, Inc. (NYSE:HRTG) Short interest up 24.8% in May


Heritage Insurance Holdings, Inc. (NYSE: HRTG – Get Rating) enjoyed significant growth in short-term interest in May. As of May 15, there was short interest totaling 1,110,000 shares, up 24.8% from the total of 889,200 shares as of April 30. Approximately 4.8% of the company’s shares are sold short. Based on an average daily trading volume of 243,300 shares, the short-term interest rate ratio is currently 4.6 days.

Several institutional investors have recently increased or reduced their stake in HRTG. Point72 Hong Kong Ltd bought a new position in shares of Heritage Insurance in Q3, valued at around $27,000. Herold Advisors Inc. bought a new stock position in Heritage Insurance in Q1 worth approximately $43,000. McIlrath & Eck LLC bought a new stock position in Heritage Insurance in Q1 worth about $43,000. First Quadrant LLC CA bought a new stock position in Heritage Insurance in Q1 worth approximately $44,000. Finally, Ensign Peak Advisors Inc bought a new position in Heritage Insurance stock in Q4 valued at around $39,000. 59.33% of the shares are held by institutional investors and hedge funds.

Shares of NYSE:HRTG traded down $0.18 on Wednesday, hitting $3.48. The stock recorded a trading volume of 19,448 shares, compared to an average volume of 324,164 shares. The company’s 50-day moving average price is $5.08 and its 200-day moving average price is $5.80. The company has a debt ratio of 0.44, a quick ratio of 0.62 and a current ratio of 0.62. Heritage Insurance has a twelve month minimum of $2.85 and a twelve month maximum of $9.20. The company has a market capitalization of $92.12 million, a price-earnings ratio of -0.97 and a beta of 0.80.

Heritage Insurance (NYSE:HRTG – Get Rating) last released its quarterly results on Thursday, May 5. The insurance provider reported ($1.15) earnings per share (EPS) for the quarter, missing analyst consensus estimates of $0.13 per ($1.28). Heritage Insurance had a negative net margin of 15.61% and a negative return on equity of 10.95%. In the same period a year earlier, the company had earned earnings per share of $0.19. As a group, sell-side analysts expect Heritage Insurance to post -1.35 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 5. Investors of record on Tuesday, June 14 will receive a dividend of $0.06. The ex-dividend date is Monday, June 13. This represents a dividend of $0.24 on an annualized basis and a dividend yield of 6.90%. Heritage Insurance’s dividend payout rate is -6.54%.

Several equity research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Heritage Insurance from a “buy” rating to a “hold” rating in a Wednesday, May 4, research note. StockNews.com downgraded Heritage Insurance shares from a “buy” rating to a “hold” rating in a Thursday, May 19 research rating. Finally, TheStreet downgraded the shares of Heritage Insurance from a “c-” rating to a “d+” rating in a Tuesday, May 3 research note. Two equity research analysts rated the stock with a hold rating and two assigned the company a buy rating. According to MarketBeat, Heritage Insurance currently has an average rating of “Buy” and an average price target of $9.50.

Heritage Insurance Company Profile (Get a rating)

Heritage Insurance Holdings, Inc., through its subsidiaries, offers personal and commercial home insurance products. The company offers personal residential property insurance for single family homeowners and condominium owners, as well as rental property insurance in the states of 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 residential property and personal wind insurance.

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