Traders are a little more bearish on shares of Heritage Insurance Holdings of late if you consider the uptick in short interest. The stock realized a rise in short interest of 7.66% as of October 31, 2017 from the last reporting period. Short shares grew 393,021 over that period. The days to cover increased to 11.0 and the percentage of shorted shares is 0.23% as of October 31.
Heritage Insurance Holdings (NYSE:HRTG) has been the object of insider buying activity recently. Ernie J. Garateix, Chief Operating Officer bought $7,224 worth of shares at a price of $10.32 on Wed the 6th. That brings the Chief Operating Officer’s holdings to $1,554,904 as recorded in a recent Form 4 SEC filing.
These firms have modified their investment in HRTG. As of the end of the quarter Bridgeway Capital Management Inc had acquired a total of 25,000 shares growing its position 45.5%. The value of the investment in Heritage Insurance Holdings went from $716,000 to $1,057,000 increasing 47.6% quarter to quarter. As of quarter end Jacobs Levy Equity Management, Inc had sold 59,859 shares trimming its holdings by 40.2%. The value in dollars decreased from $1,937,000 to $1,175,000 a change of $762,000 quarter over quarter.
State Street Corp added to its stake by buying 588 shares an increase of 0.1% from 06/30/2017 to 09/30/2017. State Street Corp currently owns 484,830 shares valued at $6,408,000. The value of the position overall is up by 1.6%. Gsa Capital Partners Llp divested its position by selling 108,967 shares a decrease of 71.9% in the quarter. Gsa Capital Partners Llp now holds 42,538 shares with a value of $562,000. The total value of its holdings decreased 71.5%.
Citigroup raised the price target on November 3 boosting the projection from $18.00 to $19.00 with a “Buy” recommendation. November 1 investment analysts at SunTrust Banks kept the stock rating at “Buy” projecting a price of $18.00.
Equity analyst Citigroup raised the price target of the stock on October 17 changing the forecast from $17.00 to $18.00 with a rating of “Buy”. On September 26 SunTrust Banks left the stock rating at “Buy” with a current price target of $18.00.
On September 21 Keefe, Bruyette & Woods kept the company rating at “Buy” targeting a price of $17.00.
The company is trading down from yesterday’s close of 17.62. Heritage Insurance Holdings’s P/E ratio is 1 and market cap is 427.74M. In the latest earnings report the EPS was $0.01 with 24.40M shares outstanding.
Heritage Insurance Holdings, Inc. (Heritage Insurance), launched on December 30, 2013, is a property and casualty insurance holding company. The Company provides personal and commercial residential insurance. Through its subsidiary, Heritage Property & Casualty Insurance Company (Heritage P&C), it provides personal residential insurance for single-family homeowners and condominium owners, rental property insurance and commercial residential insurance in the state of Florida and North Carolina. The Company is vertically integrated and controls or manages all aspects of insurance underwriting, customer service, actuarial analysis, distribution and claims processing and adjusting. The Business’s primary products are personal and commercial residential insurance, which it offers only in Florida..Advertisement