Hippo Holdings Inc. (NYSE:HIPO) Sees Large Drop in Short Interest

Hippo Holdings Inc. (NYSE:HIPO) was the recipient of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 1,110,000 shares, a decline of 5.1% from the May 15th total of 1,170,000 shares. Approximately 8.8% of the shares of the company are short sold. Based on an average daily trading volume, of 149,100 shares, the days-to-cover ratio is presently 7.4 days.

Analysts Set New Price Targets

HIPO has been the topic of a number of research analyst reports. JMP Securities reissued a “market outperform” rating and set a $25.00 price objective on shares of Hippo in a report on Monday, April 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $22.00 price target (up from $21.00) on shares of Hippo in a report on Friday, May 10th.

Hippo Stock Performance

NYSE:HIPO opened at $15.31 on Thursday. Hippo has a one year low of $6.64 and a one year high of $25.49. The firm has a market cap of $374.02 million, a price-to-earnings ratio of -1.52 and a beta of 1.33. The firm’s fifty day moving average is $18.88 and its two-hundred day moving average is $14.61.

Hippo (NYSE:HIPO) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($1.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.06). The firm had revenue of $85.10 million during the quarter, compared to analyst estimates of $67.90 million. Hippo had a negative return on equity of 59.81% and a negative net margin of 93.69%. As a group, equities research analysts predict that Hippo will post -4.98 earnings per share for the current fiscal year.

Insider Activity

In other news, CRO Yuval Harry sold 14,938 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $17.20, for a total transaction of $256,933.60. Following the sale, the executive now directly owns 145,162 shares of the company’s stock, valued at $2,496,786.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 31,125 shares of company stock valued at $551,307 over the last ninety days. 11.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Hippo in the fourth quarter worth about $114,000. SVB Wealth LLC acquired a new position in shares of Hippo during the 4th quarter worth about $122,000. Steamboat Capital Partners LLC acquired a new position in shares of Hippo during the 1st quarter worth about $158,000. PEAK6 Investments LLC acquired a new position in shares of Hippo during the 1st quarter worth about $277,000. Finally, Trexquant Investment LP acquired a new position in shares of Hippo during the 4th quarter worth about $327,000. Institutional investors and hedge funds own 43.01% of the company’s stock.

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.