Heritage Insurance Holdings, Inc. (NYSE:HRTG) Short Interest Up 7.8% in March

Heritage Insurance Holdings, Inc. (NYSE:HRTGGet Free Report) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 458,100 shares, a growth of 7.8% from the February 29th total of 424,800 shares. Based on an average daily trading volume, of 406,300 shares, the short-interest ratio is presently 1.1 days. Approximately 2.1% of the shares of the stock are sold short.

Insiders Place Their Bets

In related news, Director Paul L. Whiting purchased 20,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $8.14 per share, with a total value of $162,800.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $162,800. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Heritage Insurance

Several institutional investors have recently made changes to their positions in HRTG. Spotlight Asset Group Inc. bought a new position in shares of Heritage Insurance during the first quarter valued at approximately $852,000. Essex Investment Management Co. LLC bought a new position in shares of Heritage Insurance during the third quarter valued at approximately $2,171,000. EAM Investors LLC bought a new position in shares of Heritage Insurance during the third quarter valued at approximately $1,912,000. Millennium Management LLC grew its holdings in shares of Heritage Insurance by 111.4% during the fourth quarter. Millennium Management LLC now owns 469,843 shares of the insurance provider’s stock valued at $846,000 after purchasing an additional 247,620 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new position in shares of Heritage Insurance during the third quarter valued at approximately $1,343,000. 59.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Truist Financial boosted their price objective on Heritage Insurance from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. StockNews.com upgraded Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Thursday, March 21st. Piper Sandler reiterated a “neutral” rating and issued a $9.00 price target on shares of Heritage Insurance in a research note on Monday. Finally, JMP Securities reiterated a “market perform” rating on shares of Heritage Insurance in a research note on Wednesday, March 13th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Read Our Latest Research Report on Heritage Insurance

Heritage Insurance Stock Down 0.5 %

Shares of Heritage Insurance stock opened at $10.93 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.54. The firm has a market cap of $330.30 million, a P/E ratio of 6.35 and a beta of 0.90. Heritage Insurance has a fifty-two week low of $2.85 and a fifty-two week high of $11.23. The business has a 50-day moving average price of $7.49 and a 200 day moving average price of $6.94.

About Heritage Insurance

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Heritage Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heritage Insurance and related companies with MarketBeat.com's FREE daily email newsletter.