HCI Group, Inc. (NYSE:HCI) Short Interest Up 9.9% in May

HCI Group, Inc. (NYSE:HCI) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 988,900 shares, a growth of 9.9% from the May 15th total of 899,700 shares. Currently, 12.2% of the shares of the company are sold short. Based on an average daily volume of 163,700 shares, the short-interest ratio is presently 6.0 days.

HCI Group Trading Down 1.5 %

NYSE HCI traded down $1.44 on Tuesday, hitting $92.49. The company’s stock had a trading volume of 130,602 shares, compared to its average volume of 141,321. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.46. HCI Group has a 1-year low of $48.84 and a 1-year high of $121.57. The company’s 50-day moving average is $104.30 and its 200 day moving average is $99.47. The firm has a market cap of $969.24 million, a PE ratio of 9.41 and a beta of 1.11.

HCI Group (NYSE:HCI) last announced its quarterly earnings results on Wednesday, May 8th. The insurance provider reported $3.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.91. HCI Group had a net margin of 17.72% and a return on equity of 40.30%. The firm had revenue of $206.61 million during the quarter, compared to analysts’ expectations of $189.17 million. As a group, analysts predict that HCI Group will post 11.68 earnings per share for the current fiscal year.

HCI Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 17th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Thursday, May 16th. HCI Group’s dividend payout ratio is currently 16.28%.

Analyst Ratings Changes

Several brokerages have recently commented on HCI. William Blair upgraded shares of HCI Group from a “market perform” rating to an “outperform” rating in a research report on Friday, March 8th. StockNews.com upgraded shares of HCI Group from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Compass Point boosted their target price on shares of HCI Group from $90.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Oppenheimer reiterated an “outperform” rating and set a $140.00 price objective on shares of HCI Group in a research report on Friday, April 5th. Finally, JMP Securities upped their price objective on shares of HCI Group from $120.00 to $135.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 9th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $127.75.

Insider Transactions at HCI Group

In related news, insider Anthony Saravanos sold 12,967 shares of HCI Group stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $117.01, for a total transaction of $1,517,268.67. Following the completion of the sale, the insider now owns 67,033 shares of the company’s stock, valued at approximately $7,843,531.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Paresh Patel bought 500 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was bought at an average cost of $111.00 per share, for a total transaction of $55,500.00. Following the transaction, the chief executive officer now owns 349,500 shares of the company’s stock, valued at $38,794,500. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anthony Saravanos sold 12,967 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $117.01, for a total transaction of $1,517,268.67. Following the completion of the transaction, the insider now owns 67,033 shares of the company’s stock, valued at $7,843,531.33. The disclosure for this sale can be found here. Insiders have sold 113,102 shares of company stock worth $13,198,303 in the last ninety days. Insiders own 25.25% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hood River Capital Management LLC boosted its stake in HCI Group by 1.4% during the first quarter. Hood River Capital Management LLC now owns 721,876 shares of the insurance provider’s stock worth $83,795,000 after acquiring an additional 9,828 shares in the last quarter. Vanguard Group Inc. boosted its stake in HCI Group by 6.7% during the first quarter. Vanguard Group Inc. now owns 499,948 shares of the insurance provider’s stock worth $58,034,000 after acquiring an additional 31,234 shares in the last quarter. Wasatch Advisors LP raised its holdings in HCI Group by 5.1% during the fourth quarter. Wasatch Advisors LP now owns 186,053 shares of the insurance provider’s stock worth $16,261,000 after buying an additional 8,992 shares during the last quarter. Khrom Capital Management LLC raised its holdings in HCI Group by 792.2% during the first quarter. Khrom Capital Management LLC now owns 180,506 shares of the insurance provider’s stock worth $20,953,000 after buying an additional 160,274 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in HCI Group by 344.4% during the first quarter. Assenagon Asset Management S.A. now owns 72,022 shares of the insurance provider’s stock worth $8,360,000 after buying an additional 55,817 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

About HCI Group

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.