Ready to Jump After Recent Trade: Heritage Insurance Holdings Inc. (HRTG)

Heritage Insurance Holdings Inc. (NYSE: HRTG) stock jumped 7.14% on Wednesday to $1.50 against a previous-day closing price of $1.40. With 0.25 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.15 million shares. During the session, the Insurance – Property & Casualty company that operates in wider Financial sector, reached to the highest price of $1.5400 whereas the lowest price it dropped to was $1.4300. The 52-week range on HRTG shows that it touched its highest point at $7.37 and its lowest point at $1.12 during that stretch. It currently has a 1-year price target of $5.25. With its current market cap of 39.93 million, HRTG has annualized dividend of $0.24 while the current yield stands at 16.00%. Beta for the stock currently stands at 0.67.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HRTG was up-trending over the past week, with a rise of 7.14%, but this was up by 7.91% over a month. Three-month performance dropped to -48.10% while six-month performance fell -56.77%. The stock lost -78.84% in the past year, while it has lost -74.49% so far this year. A look at the trailing 12-month EPS for HRTG yields -8.09 with Next year EPS estimates of 0.72. For the next quarter, that number is -0.01. This implies an EPS growth rate of -906.60% for this year and 111.70% for next year.

Float and Shares Shorts:

At present, 26.37 million HRTG shares are outstanding with a float of 19.82 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.44 million, which was 1.67% higher than short shares on Sep 14, 2022. In addition to Mr. Ernesto Jose Garateix CPCU as the firm’s CEO & Director, Mr. Kirk Howard Lusk serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 49.40% of HRTG’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 31.97% of HRTG, in contrast to 27.32% held by mutual funds. Shares owned by individuals account for 14.88%. As the largest shareholder in HRTG with 4.74% of the stake, Rutabaga Capital Management LLC holds 1,257,983 shares worth 1,257,983. A second-largest stockholder of HRTG, The Vanguard Group, Inc., holds 1,117,541 shares, controlling over 4.21% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in HRTG, holding 1,006,609 shares or 3.79% stake. With a 2.74% stake in HRTG, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 727,350 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.40% of HRTG stock, is the second-largest Mutual Fund holder. It holds 370,621 shares valued at 0.56 million. DFA US Small Cap Value Portfolio holds 0.88% of the stake in HRTG, owning 232,929 shares worth 0.35 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HRTG since 4 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With HRTG analysts setting a high price target of $10.00 and a low target of $3.00, the average target price over the next 12 months is $5.25. Based on these targets, HRTG could surge 566.67% to reach the target high and rise by 100.0% to reach the target low. Reaching the average price target will result in a growth of 250.0% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. HRTG will report FY 2022 earnings on 03/02/2023. Analysts have provided yearly estimates in a range of -$2.65 being high and -$6.14 being low. For HRTG, this leads to a yearly average estimate of -$3.73. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Heritage Insurance Holdings Inc. surprised analysts by -$0.89 when it reported -$1.83 EPS against a consensus estimate of -$0.94. The surprise factor in the prior quarter was $0.15. Based on analyst estimates, the high estimate for the next quarter is $0.21 and the low estimate is -$0.37. The average estimate for the next quarter is thus -$0.01.

Summary of Insider Activity:

Insiders traded HRTG stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 229,995 shares were bought while 0 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 746,360 while 19,083 shares were sold.

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