Hippo Holdings Inc. (NYSE:HIPO) Short Interest Update

Hippo Holdings Inc. (NYSE:HIPO) was the recipient of a significant growth in short interest during 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 company’s shares are short sold. Based on an average trading volume of 114,700 shares, the days-to-cover ratio is presently 12.7 days.

Analyst Upgrades and Downgrades

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

Hippo Price Performance

Hippo stock traded down $0.18 during midday trading on Wednesday, hitting $18.75. 102,819 shares of the stock were exchanged, compared to its average volume of 148,760. The company has a 50 day moving average price of $18.37 and a two-hundred day moving average price of $18.12. The firm has a market cap of $467.25 million, a P/E ratio of -2.64 and a beta of 1.34. Hippo has a 1 year low of $7.03 and a 1 year high of $25.49.

Hippo (NYSE:HIPO) last released its earnings results on Thursday, August 8th. The company reported ($1.64) earnings per share for the quarter, missing the consensus estimate of ($1.48) by ($0.16). The company had revenue of $89.60 million during the quarter, compared to the consensus estimate of $85.40 million. Hippo had a negative return on equity of 46.46% and a negative net margin of 57.80%. During the same period in the previous year, the firm posted ($4.61) EPS. As a group, analysts predict that Hippo will post -4.6 EPS for the current year.

Insider Activity at Hippo

In other news, Chairman Assaf Wand sold 12,250 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $16.19, for a total value of $198,327.50. Following the transaction, the chairman now directly owns 548,064 shares in the company, valued at $8,873,156.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Hippo news, Chairman Assaf Wand sold 12,250 shares of the business’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 transaction of $198,327.50. Following the completion of the sale, the chairman now directly owns 548,064 shares in the company, valued at $8,873,156.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Yuval Harry sold 2,958 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $18.49, for a total transaction of $54,693.42. Following the completion of the transaction, the executive now directly owns 104,247 shares in the company, valued at approximately $1,927,527.03. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,627 shares of company stock worth $278,762. 11.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Hippo

Hedge funds and other institutional investors have recently modified their holdings of the stock. Steamboat Capital Partners LLC acquired a new position in shares of Hippo in the 1st quarter valued at about $158,000. Vanguard Group Inc. boosted its holdings in shares of Hippo by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock valued at $13,872,000 after buying an additional 45,058 shares during the period. PEAK6 Investments LLC acquired a new position in shares of Hippo in the 1st quarter valued at about $277,000. Hood River Capital Management LLC boosted its holdings in shares of Hippo by 79.4% in the 1st quarter. Hood River Capital Management LLC now owns 326,343 shares of the company’s stock valued at $5,962,000 after buying an additional 144,459 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Hippo by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,328 shares of the company’s stock valued at $427,000 after buying an additional 801 shares during the period. Institutional investors 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.