Short Interest in Hippo Holdings Inc. (NYSE:HIPO) Grows By 8.1%

Hippo Holdings Inc. (NYSE:HIPO) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 1,460,000 shares, a growth of 8.1% from the September 30th total of 1,350,000 shares. Currently, 10.6% of the shares of the company are sold short. Based on an average daily volume of 114,700 shares, the short-interest ratio is currently 12.7 days.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a report on Monday, August 19th. Jefferies Financial Group dropped their target price on shares of Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th.

Insider Buying and Selling at Hippo

In other news, CRO Yuval Harry sold 2,958 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $18.49, for a total value of $54,693.42. Following the completion of the sale, the executive now directly owns 104,247 shares of the company’s stock, valued at approximately $1,927,527.03. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Assaf Wand sold 12,250 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $16.19, for a total value of $198,327.50. Following the completion of the sale, the chairman now directly owns 548,064 shares of the company’s stock, valued at approximately $8,873,156.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Yuval Harry sold 2,958 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $18.49, for a total transaction of $54,693.42. Following the completion of the sale, the executive now directly owns 104,247 shares of the company’s stock, valued at approximately $1,927,527.03. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,627 shares of company stock valued at $278,762 in the last ninety days. Company insiders own 11.37% of the company’s stock.

Institutional Investors Weigh In On Hippo

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Hippo during the third quarter valued at approximately $174,000. AQR Capital Management LLC purchased a new position in Hippo during the second quarter valued at approximately $194,000. Squarepoint Ops LLC purchased a new position in Hippo during the second quarter valued at approximately $335,000. Dimensional Fund Advisors LP purchased a new position in Hippo during the second quarter valued at approximately $629,000. Finally, American Century Companies Inc. grew its position in Hippo by 28.2% during the second quarter. American Century Companies Inc. now owns 25,453 shares of the company’s stock valued at $438,000 after purchasing an additional 5,592 shares in the last quarter. Institutional investors and hedge funds own 43.01% of the company’s stock.

Hippo Stock Down 1.0 %

Shares of HIPO stock traded down $0.18 during trading hours on Wednesday, reaching $18.75. 102,819 shares of the stock traded hands, compared to its average volume of 148,760. Hippo has a 1-year low of $7.03 and a 1-year high of $25.49. The business has a fifty day moving average price of $18.37 and a 200 day moving average price of $18.12. The firm has a market capitalization of $467.25 million, a PE ratio of -2.64 and a beta of 1.34.

Hippo (NYSE:HIPO) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.16). Hippo had a negative net margin of 57.80% and a negative return on equity of 46.46%. The firm had revenue of $89.60 million for the quarter, compared to analyst estimates of $85.40 million. During the same quarter in the prior year, the firm earned ($4.61) EPS. Research analysts expect that Hippo will post -4.6 earnings per share for the current fiscal year.

About Hippo

Hippo Holdings Inc provides property and casualty insurance products to individuals and business customers primarily in the United States. The company operates through three segments: Services, Insurance-as-a-Service, and Hippo Home Insurance Program. Its insurance products include homeowners' insurance against risks of fire, wind, and theft, as well as other personal lines policies from third party carriers; and personal and commercial, as well as home, auto, cyber, small business, life, specialty lines, and other insurance products.