HCI Group, Inc. (NYSE:HCI) Sees Large Growth in Short Interest

by · The Markets Daily

HCI Group, Inc. (NYSE:HCI – Get Free Report) was the recipient of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,260,000 shares, a growth of 10.5% from the October 31st total of 1,140,000 shares. Based on an average daily trading volume, of 163,600 shares, the short-interest ratio is presently 7.7 days. Approximately 15.3% of the company’s shares are sold short.

HCI Group Stock Performance

HCI stock traded up $2.30 during trading on Wednesday, reaching $121.28. The stock had a trading volume of 35,094 shares, compared to its average volume of 146,595. HCI Group has a 52 week low of $81.35 and a 52 week high of $126.50. The stock’s 50 day moving average is $113.11 and its two-hundred day moving average is $101.03. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The firm has a market cap of $1.28 billion, a PE ratio of 9.93 and a beta of 1.11.

HCI Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 15th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Friday, November 15th. HCI Group’s dividend payout ratio is 13.37%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HCI. Compass Point reissued a “neutral” rating and issued a $120.00 target price (up from $119.00) on shares of HCI Group in a research note on Monday, October 21st. Truist Financial upped their price target on HCI Group from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, November 8th. JMP Securities reaffirmed a “market outperform” rating and set a $145.00 price target on shares of HCI Group in a report on Tuesday, October 15th. Finally, Oppenheimer upped their price target on HCI Group from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, HCI Group presently has an average rating of “Moderate Buy” and an average target price of $140.00.

Get Our Latest Stock Report on HCI Group

Institutional Trading of HCI Group

A number of hedge funds and other institutional investors have recently bought and sold shares of HCI. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 31,234 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of HCI Group by 17.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 5,980 shares of the insurance provider’s stock worth $692,000 after purchasing an additional 895 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of HCI Group during the first quarter worth about $242,000. Virtu Financial LLC purchased a new stake in shares of HCI Group during the first quarter worth about $230,000. Finally, CWM LLC grew its position in shares of HCI Group by 115.4% during the second quarter. CWM LLC now owns 924 shares of the insurance provider’s stock worth $85,000 after purchasing an additional 495 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

HCI Group Company Profile

(Get Free Report)

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.

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