Heritage Insurance Holdings Inc. (NYSE:HRTG) Up Almost 47.25% In 1 Month, Long Term Looking Good As Well

In last trading session, Heritage Insurance Holdings Inc. (NYSE:HRTG) saw 0.32 million shares changing hands with its beta currently measuring 0.73. Company’s recent per share price level of $7.76 trading at $0.34 or 4.58% at ring of the bell on the day assigns it a market valuation of $302.80M. That closing price of HRTG’s stock is at a discount of -3.09% from its 52-week high price of $8.00 and is indicating a premium of 82.99% from its 52-week low price of $1.32. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.53 million shares which gives us an average trading volume of 319.10K if we extend that period to 3-months.

For Heritage Insurance Holdings Inc. (HRTG), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 1.67. Splitting up the data highlights that, out of 3 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 2 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.41 in the current quarter.

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Heritage Insurance Holdings Inc. (NYSE:HRTG) trade information

Upright in the green during last session for gaining 4.58%, in the last five days HRTG remained trading in the green while hitting it’s week-highest on Wednesday, 11/15/23 when the stock touched $7.76 price level, adding 1.27% to its value on the day. Heritage Insurance Holdings Inc.’s shares saw a change of 331.11% in year-to-date performance and have moved 5.01% in past 5-day. Heritage Insurance Holdings Inc. (NYSE:HRTG) showed a performance of 47.25% in past 30-days. Number of shares sold short was 0.36 million shares which calculate 1.24 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $7.33 to the stock, which implies a fall of -5.87% to its current value. Analysts have been projecting $6.00 as a low price target for the stock while placing it at a high target of $9.00. It follows that stock’s current price would drop -15.98% in reaching the projected high whereas dropping to the targeted low would mean a gain of 22.68% for stock’s current value.

Heritage Insurance Holdings Inc. (HRTG) estimates and forecasts

Statistics highlight that Heritage Insurance Holdings Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 55.20% of value to its shares in past 6 months, showing an annual growth rate of 141.08% while that of industry is 10.50. Apart from that, the company came raising its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to decrease by -14.60% in the current quarter and calculating 9.10% increase in the next quarter. This year revenue growth is estimated to rise 10.70% from the last financial year’s standing.

2 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $185.11 million for the same. And 2 analysts are in estimates of company making revenue of $189.48 million in the next quarter that will end on Mar 2024. Company posted $174.59 million and $165.81 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 6.00% while estimating it to be 14.30% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -168.74% during past 5 years.

HRTG Dividends

Heritage Insurance Holdings Inc. is more likely to be releasing its next quarterly report on November 03 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Heritage Insurance Holdings Inc. (NYSE:HRTG)’s Major holders

Insiders are in possession of 25.68% of company’s total shares while institution are holding 37.10 percent of that, with stock having share float percentage of 49.92%. Investors also watch the number of corporate investors in a company very closely, which is 37.10% institutions for Heritage Insurance Holdings Inc. that are currently holding shares of the company. Rutabaga Capital Management, LLC is the top institutional holder at HRTG for having 1.26 million shares of worth $2.84 million. And as of Sep 29, 2022, it was holding 4.92% of the company’s outstanding shares.

The second largest institutional holder is Vanguard Group Inc, which was holding about 1.25 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 4.90% of outstanding shares, having a total worth of $4.82 million.

On the other hand, Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 0.86 million shares of worth $3.33 million or 3.38% of the total outstanding shares. The later fund manager was in possession of 0.35 million shares on Jun 29, 2023, making its stake of worth around $1.36 million in the company or a holder of 1.38% of company’s stock.

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