Hippo Holdings Inc. (NYSE:HIPO – Get Free Report) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 891,800 shares, a growth of 8.5% from the August 31st total of 821,800 shares. Approximately 7.1% of the shares of the company are short sold. Based on an average daily trading volume, of 105,400 shares, the days-to-cover ratio is currently 8.5 days.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on HIPO shares. Keefe, Bruyette & Woods lowered their price target on shares of Hippo from $23.00 to $19.00 and set an “outperform” rating on the stock in a report on Thursday, August 17th. JMP Securities lowered their target price on Hippo from $70.00 to $50.00 and set a “market outperform” rating on the stock in a report on Wednesday, August 9th. Finally, William Blair started coverage on shares of Hippo in a report on Friday, August 11th. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Hippo has a consensus rating of “Moderate Buy” and an average target price of $27.38.
View Our Latest Report on HIPO
Insider Buying and Selling
In other news, Director John Drake Nichols purchased 24,141 shares of the stock in a transaction on Monday, August 21st. The shares were acquired at an average price of $10.83 per share, with a total value of $261,447.03. Following the completion of the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at $541,500. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders acquired 35,069 shares of company stock worth $373,309. 11.28% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Hippo
Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada bought a new stake in Hippo during the first quarter worth approximately $34,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Hippo during the second quarter valued at approximately $37,000. Cubist Systematic Strategies LLC boosted its holdings in Hippo by 60.0% in the third quarter. Cubist Systematic Strategies LLC now owns 2,080 shares of the company’s stock worth $39,000 after purchasing an additional 780 shares in the last quarter. UBS Group AG lifted its position in Hippo by 219.1% during the 2nd quarter. UBS Group AG now owns 49,453 shares of the company’s stock worth $43,000 after acquiring an additional 33,957 shares during the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in shares of Hippo in the first quarter worth $51,000. Institutional investors and hedge funds own 30.85% of the company’s stock.
Hippo Stock Down 2.1 %
Shares of NYSE:HIPO opened at $7.33 on Wednesday. Hippo has a one year low of $7.29 and a one year high of $20.39. The company has a 50-day simple moving average of $10.91 and a 200-day simple moving average of $14.87.
Hippo (NYSE:HIPO – Get Free Report) last released its earnings results on Tuesday, August 8th. The company reported ($4.61) EPS for the quarter, missing the consensus estimate of ($2.31) by ($2.30). Hippo had a negative return on equity of 56.30% and a negative net margin of 240.20%. The firm had revenue of $47.70 million during the quarter, compared to analysts’ expectations of $47.00 million. Sell-side analysts predict that Hippo will post -12.24 earnings per share for the current fiscal year.
Hippo Company Profile
(Get Free Report)
Hippo Holdings Inc provides home protection insurance in the United States and the District of Columbia. Its insurance products include homeowners’ insurance against risks of fire, wind, and theft; and personal and commercial insurance products. The company distributes insurance products and services through its technology platform; and offers its policies online, over the phone, or through licensed insurance agents.
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