Heritage Insurance Holdings, Inc. (NYSE: HRTG – Get Rating) was the target of a sharp rise in short-term interest in April. As of April 30, there was short interest totaling 889,200 shares, an increase of 28.4% from the April 15 total of 692,300 shares. Based on an average daily trading volume of 217,800 shares, the days-to-cover ratio is currently 4.1 days. Currently, 3.8% of the company’s shares are sold short.
A number of research analysts have recently commented on HRTG’s actions. TheStreet upgraded Heritage Insurance from a ‘c-‘ rating to a ‘d+’ rating in a Tuesday, May 3 research note. StockNews.com upgraded Heritage Insurance from a “hold” rating to a “buy” rating in a Wednesday, May 11 research rating. Finally, Zacks Investment Research downgraded Heritage Insurance from a “buy” rating to a “hold” rating in a Wednesday, May 4 research report. One investment analyst has assigned the stock a hold rating and three have assigned the company’s stock a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $9.50.
Several institutional investors have recently bought and sold shares of HRTG. Acuitas Investments LLC increased its holdings of Heritage Insurance shares by 76.0% in the first quarter. Acuitas Investments LLC now owns 830,310 shares of the insurance provider worth $5,928,000 after acquiring an additional 358,603 shares during the period. Marshall Wace LLP increased its position in Heritage Insurance by 202.0% during the fourth quarter. Marshall Wace LLP now owns 225,794 shares of the insurance provider valued at $1,327,000 after buying an additional 151,029 shares last quarter. Renaissance Technologies LLC increased its position in Heritage Insurance by 47.5% during the fourth quarter. Renaissance Technologies LLC now owns 458,199 shares of the insurance provider valued at $2,694,000 after buying an additional 147,468 shares last quarter. Pacific Ridge Capital Partners LLC increased its position in Heritage Insurance by 15.5% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 834,956 shares of the insurance provider valued at $4,910,000 after buying an additional 112,331 shares last quarter. Finally, Millennium Management LLC increased its position in Heritage Insurance by 526.0% during the third quarter. Millennium Management LLC now owns 116,789 shares of the insurance provider valued at $795,000 after buying an additional 98,134 shares last quarter. 59.33% of the shares are held by institutional investors and hedge funds.
HRTG stock traded down $0.14 on Tuesday, hitting $3.33. 1,023 shares of the company were traded, against an average volume of 325,711. The company has a fifty-day simple moving average of $5.80 and a 200-day simple moving average of $6.05. Heritage Insurance has a one-year minimum of $2.85 and a one-year maximum of $9.20. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt ratio of 0.44.
Heritage Insurance (NYSE:HRTG – Get Rating) last released its results on Thursday, May 5. The insurance provider reported ($1.15) EPS for the quarter, missing analyst consensus estimates of $0.13 per ($1.28). Heritage Insurance had a negative return on equity of 10.95% and a negative net margin of 15.61%. In the same period a year earlier, the company posted ($0.19) earnings per share. On average, research analysts expect Heritage Insurance to post -1.35 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 5. Shareholders of record on Tuesday, June 14 will receive a dividend of $0.06. This represents a dividend of $0.24 on an annualized basis and a dividend yield of 7.21%. The ex-dividend date is Monday, June 13. Heritage Insurance’s payout ratio is -6.54%.
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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