HCI Group, Inc. (NYSE:HCI) Sees Large Increase in Short Interest

HCI Group, Inc. (NYSE:HCI) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 1,380,000 shares, an increase of 27.8% from the December 31st total of 1,080,000 shares. Based on an average trading volume of 135,400 shares, the short-interest ratio is presently 10.2 days. Approximately 16.7% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

HCI has been the topic of several recent analyst reports. Oppenheimer lifted their price objective on shares of HCI Group from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Compass Point reaffirmed a “neutral” rating and set a $120.00 price target (up previously from $119.00) on shares of HCI Group in a research note on Monday, October 21st. JMP Securities reiterated a “market outperform” rating and issued a $145.00 target price on shares of HCI Group in a report on Tuesday, October 15th. Finally, Truist Financial reiterated a “buy” rating and set a $145.00 price objective on shares of HCI Group in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Institutional Investors Weigh In On HCI Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in HCI Group by 7.7% in the 3rd quarter. State Street Corp now owns 291,244 shares of the insurance provider’s stock worth $31,181,000 after acquiring an additional 20,910 shares in the last quarter. Geode Capital Management LLC grew its stake in HCI Group by 28.7% in the third quarter. Geode Capital Management LLC now owns 219,821 shares of the insurance provider’s stock worth $23,538,000 after purchasing an additional 48,969 shares in the last quarter. Two Sigma Advisers LP increased its holdings in HCI Group by 196.5% during the 3rd quarter. Two Sigma Advisers LP now owns 151,800 shares of the insurance provider’s stock worth $16,252,000 after purchasing an additional 100,600 shares during the period. Wellington Management Group LLP raised its position in HCI Group by 58.3% during the 3rd quarter. Wellington Management Group LLP now owns 146,738 shares of the insurance provider’s stock valued at $15,710,000 after purchasing an additional 54,050 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in HCI Group by 80.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 102,916 shares of the insurance provider’s stock valued at $11,781,000 after purchasing an additional 45,920 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

HCI Group Trading Down 0.4 %

Shares of NYSE HCI traded down $0.45 during midday trading on Friday, hitting $121.89. The company’s stock had a trading volume of 69,505 shares, compared to its average volume of 112,751. HCI Group has a 12-month low of $83.64 and a 12-month high of $126.50. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The firm has a market cap of $1.28 billion, a P/E ratio of 10.18 and a beta of 1.13. The business’s 50 day moving average is $117.10 and its two-hundred day moving average is $107.88.

HCI Group (NYSE:HCI) last released its earnings results on Thursday, November 7th. The insurance provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.08. The business had revenue of $175.32 million for the quarter, compared to analyst estimates of $192.08 million. HCI Group had a return on equity of 34.17% and a net margin of 19.37%. During the same quarter last year, the firm posted $1.41 earnings per share. As a group, equities research analysts expect that HCI Group will post 6.78 EPS for the current year.

HCI Group Company Profile

HCI Group, Inc, together with its subsidiaries, engages in the property and casualty insurance, insurance management, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners, fire, flood, and wind-only insurance to homeowners, condominium owners, and tenants for properties, as well as offers reinsurance programs.