Traders are feeling more bearish on shares of Heritage Insurance Holdings if you take into consideration the rise in short interest. The stock experienced a rise in short interest of 7.66% as of October 31, 2017 from the last reporting period. Short shares increased 393,021 over that timeframe. The days to cover increased to 11.0 and the percentage of shorted shares was 0.23% on October 31.
Heritage Insurance Holdings (NYSE:HRTG) has been the object of insider buying activity recently. Chief Operating Officer Ernie J. Garateix bought 700 shares at a price of $10.32 on Wed the 6th. The Chief Operating Officer now owns $1,554,904 of the stock as recorded in a recent Form 4 SEC filing.
Here are a few substantial investment firms who have updated their positions. As of the end of the quarter Bridgeway Capital Management Inc had acquired 25,000 shares growing its stake by 45.5%. The value in dollars went from $716,000 to $1,057,000 a change of 47.6% quarter over quarter. As of quarter end Jacobs Levy Equity Management, Inc had sold a total of 59,859 shares trimming its position 40.2%. The value of the total investment in Heritage Insurance Holdings decreased from $1,937,000 to $1,175,000 a change of $762,000 for the reporting period.
As of quarter end State Street Corp had acquired a total of 588 shares growing its holdings by 0.1%. The value of the investment in (HRTG) increased from $6,304,000 to $6,408,000 increasing 1.6% quarter to quarter. As of the end of the quarter Gsa Capital Partners Llp had sold a total of 108,967 shares trimming its holdings by 71.9%. The value of the company’s investment in Heritage Insurance Holdings decreased from $1,973,000 to $562,000 decreasing 71.5% since the last quarter.
Equity analyst Citigroup raised the price target on November 3 changing the price objective from $18.00 to $19.00 and stated a “Buy” rating. November 1 investment analysts at SunTrust Banks maintained a stock rating of “Buy” targeting a price of $18.00.
Citigroup raised the price target of the stock on October 17 boosting the projection from $17.00 to $18.00 and issued a “Buy” recommendation. On September 26 SunTrust Banks left the company rating at “Buy” with a current price target of $18.00.
On September 21 Keefe, Bruyette & Woods maintained a company rating of “Buy” projecting a price of $17.00.
The company is so far trading down from yesterday’s close of 17.62. Heritage Insurance Holdings currently has a P/E ratio of 1 and market cap is 427.74M. As of 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..