Heritage Insurance Holdings, Inc. (NYSE:HRTG) Short Interest Down 13.6% in July

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totalling 950,400 shares, a drop of 13.6% from the July 15th total of 1,100,000 shares. Approximately 4.2% of the company's stock are short sold. Based on an average daily volume of 401,700 shares, the short-interest ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HRTG shares. StockNews.com upgraded Heritage Insurance from a "buy" rating to a "strong-buy" rating in a research note on Friday. Truist Financial boosted their price target on Heritage Insurance from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. Finally, Piper Sandler raised shares of Heritage Insurance from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $9.00 to $13.00 in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $10.67.

Heritage Insurance Stock Performance

Heritage Insurance stock traded up $0.62 during trading hours on Friday, hitting $14.63. 1,145,537 shares of the stock traded hands, compared to its average volume of 427,002. Heritage Insurance has a 1 year low of $4.28 and a 1 year high of $15.04. The stock has a market capitalization of $448.20 million, a price-to-earnings ratio of 8.92 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.73 and a quick ratio of 0.73. The firm's 50 day moving average price is $7.92 and its 200-day moving average price is $8.24.

Heritage Insurance (NYSE:HRTG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.23. Heritage Insurance had a net margin of 6.07% and a return on equity of 24.02%. The company had revenue of $203.57 million for the quarter, compared to the consensus estimate of $196.81 million. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, equities analysts expect that Heritage Insurance will post 1.45 EPS for the current fiscal year.

Insider Activity

In related news, Director Paul L. Whiting bought 5,000 shares of the company's stock in a transaction on Tuesday, May 28th. The shares were acquired at an average price of $7.74 per share, with a total value of $38,700.00. Following the transaction, the director now owns 64,662 shares of the company's stock, valued at $500,483.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 14.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HRTG. ClariVest Asset Management LLC lifted its holdings 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 valued at $435,000 after acquiring an additional 1,620 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Heritage Insurance by 3.9% during the 2nd quarter. Victory Capital Management Inc. now owns 106,000 shares of the insurance provider's stock valued at $750,000 after purchasing an additional 4,000 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Heritage Insurance in the 2nd quarter valued at $30,000. Tower Research Capital LLC TRC purchased a new stake in Heritage Insurance during the fourth quarter worth $40,000. Finally, Empowered Funds LLC grew its position in Heritage Insurance by 8.1% during the first quarter. Empowered Funds LLC now owns 96,678 shares of the insurance provider's stock valued at $1,030,000 after buying an additional 7,203 shares during the period. Hedge funds and other institutional investors 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.