Short Interest in Heritage Insurance Holdings, Inc. (NYSE:HRTG) Declines By 7.0%

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) was the recipient of a large decrease in short interest during 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. Based on an average trading volume of 610,900 shares, the days-to-cover ratio is presently 1.6 days. Approximately 4.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. ClariVest Asset Management LLC lifted its stake in Heritage Insurance by 2.7% in the second quarter. ClariVest Asset Management LLC now owns 61,396 shares of the insurance provider's stock worth $435,000 after acquiring an additional 1,620 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Heritage Insurance by 3.9% in the second quarter. Victory Capital Management Inc. now owns 106,000 shares of the insurance provider's stock worth $750,000 after acquiring an additional 4,000 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Heritage Insurance during the 3rd quarter worth approximately $49,000. Innealta Capital LLC purchased a new stake in shares of Heritage Insurance during the 2nd quarter worth approximately $30,000. Finally, Verition Fund Management LLC lifted its position in shares of Heritage Insurance by 15.1% during the 3rd quarter. Verition Fund Management LLC now owns 32,700 shares of the insurance provider's stock worth $400,000 after buying an additional 4,300 shares during the last quarter. Hedge funds and other institutional investors own 59.03% of the company's stock.

Heritage Insurance Stock Up 3.8 %

HRTG traded up $0.45 during trading on Monday, hitting $12.23. The stock had a trading volume of 175,950 shares, compared to its average volume of 465,342. The stock has a 50 day simple moving average of $12.38 and a two-hundred day simple moving average of $10.40. The company has a market capitalization of $375.27 million, a PE ratio of 4.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. Heritage Insurance has a twelve month low of $5.51 and a twelve month high of $16.90.

Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its earnings results on Wednesday, November 6th. The insurance provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.25. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. The business had revenue of $211.85 million for the quarter, compared to analyst estimates of $209.91 million. During the same quarter last year, the business earned ($0.28) earnings per share. On average, research analysts predict that Heritage Insurance will post 1.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HRTG shares. StockNews.com raised shares of Heritage Insurance from a "hold" rating to a "buy" rating in a research note on Saturday. Piper Sandler raised Heritage Insurance from a "neutral" rating to an "overweight" rating and increased their target price for the company from $9.00 to $13.00 in a research report on Friday, August 9th. Finally, Truist Financial upped their price objective on Heritage Insurance from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th.

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.