Hippo Holdings Inc. (NYSE:HIPO) Short Interest Down 15.5% in March

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 1,200,000 shares, a decline of 15.5% from the March 15th total of 1,420,000 shares. Approximately 8.9% of the shares of the company are sold short. Based on an average daily volume of 186,400 shares, the short-interest ratio is presently 6.4 days.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HIPO. Keefe, Bruyette & Woods boosted their price objective on Hippo from $24.00 to $26.00 and gave the stock a "market perform" rating in a research report on Tuesday. Jefferies Financial Group reduced their price target on Hippo from $43.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, April 11th.

Hippo Price Performance

Shares of NYSE HIPO traded down $0.35 during mid-day trading on Friday, reaching $24.20. 99,538 shares of the company traded hands, compared to its average volume of 180,366. Hippo has a fifty-two week low of $14.58 and a fifty-two week high of $35.44. The firm has a market cap of $606.98 million, a PE ratio of -4.64 and a beta of 1.49. The stock has a fifty day simple moving average of $26.08 and a 200-day simple moving average of $26.19.

Hippo (NYSE:HIPO - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $0.08. The company had revenue of $102.00 million for the quarter, compared to the consensus estimate of $97.83 million. Hippo had a negative return on equity of 36.38% and a negative net margin of 37.94%. As a group, analysts predict that Hippo will post -3.63 EPS for the current fiscal year.

Insider Buying and Selling at Hippo

In other news, CEO Torben Ostergaard sold 21,146 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $30.05, for a total transaction of $635,437.30. Following the completion of the transaction, the chief executive officer now owns 74,120 shares of the company's stock, valued at approximately $2,227,306. The trade was a 22.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Assaf Wand sold 12,250 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $28.90, for a total transaction of $354,025.00. Following the completion of the sale, the chairman now directly owns 486,814 shares in the company, valued at approximately $14,068,924.60. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,997 shares of company stock worth $1,469,538 over the last 90 days. Insiders own 11.37% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new stake in shares of Hippo during the fourth quarter worth $118,000. The Manufacturers Life Insurance Company acquired a new stake in Hippo during the 4th quarter worth about $200,000. Two Sigma Advisers LP purchased a new stake in Hippo during the fourth quarter valued at about $200,000. EntryPoint Capital LLC acquired a new position in shares of Hippo in the fourth quarter worth about $204,000. Finally, GAMMA Investing LLC increased its position in shares of Hippo by 4,916.3% in the first quarter. GAMMA Investing LLC now owns 8,026 shares of the company's stock worth $2,050,000 after acquiring an additional 7,866 shares in the last quarter. Institutional investors and hedge funds own 43.01% of the company's stock.

About Hippo

Hippo Holdings Inc provides property and casualty insurance products to individuals and business customers primarily in the United States. The company operates through three segments: Services, Insurance-as-a-Service, and Hippo Home Insurance Program. Its insurance products include homeowners' insurance against risks of fire, wind, and theft, as well as other personal lines policies from third party carriers; and personal and commercial, as well as home, auto, cyber, small business, life, specialty lines, and other insurance products.