Hippo Holdings Inc. (NYSE:HIPO) Short Interest Down 6.8% in October

Hippo Holdings Inc. (NYSE:HIPO) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 1,360,000 shares, a decrease of 6.8% from the October 15th total of 1,460,000 shares. Based on an average trading volume of 125,600 shares, the days-to-cover ratio is currently 10.8 days. Currently, 9.8% of the shares of the stock are sold short.

Hippo Stock Performance

NYSE HIPO opened at $28.80 on Monday. The company’s 50-day simple moving average is $19.78 and its two-hundred day simple moving average is $18.44. Hippo has a one year low of $7.75 and a one year high of $29.74. The company has a market capitalization of $717.70 million, a price-to-earnings ratio of -5.24 and a beta of 1.26.

Analyst Upgrades and Downgrades

HIPO has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a research report on Monday, August 19th. 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 report on Wednesday, October 9th.

Insider Buying and Selling

In other news, Chairman Assaf Wand sold 12,250 shares of the firm’s stock in a transaction dated 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 owns 548,064 shares in the company, valued at approximately $8,873,156.16. This trade represents a 2.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Mccathron sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $25.55, for a total transaction of $255,500.00. Following the completion of the sale, the chief executive officer now owns 366,146 shares of the company’s stock, valued at $9,355,030.30. This trade represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,657 shares of company stock worth $538,171. 11.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HIPO. Hood River Capital Management LLC grew its position 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 worth $5,962,000 after buying an additional 144,459 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Hippo in the 3rd quarter worth approximately $864,000. Vanguard Group Inc. grew its position in shares of Hippo by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock worth $13,872,000 after buying an additional 45,058 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Hippo in the 2nd quarter worth approximately $629,000. Finally, State Street Corp grew its position in shares of Hippo by 10.5% in the 3rd quarter. State Street Corp now owns 377,537 shares of the company’s stock worth $6,373,000 after buying an additional 35,743 shares during the last quarter. Hedge funds and other 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.