HCI Group Inc (NYSE:HCI) Short Interest Up 6.0% in August

HCI Group Inc (NYSE:HCI) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 501,500 shares, a growth of 6.0% from the July 31st total of 473,300 shares. Based on an average daily trading volume, of 52,700 shares, the days-to-cover ratio is presently 9.5 days. Approximately 7.9% of the shares of the stock are sold short.

Several research firms have weighed in on HCI. ValuEngine upgraded HCI Group from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Zacks Investment Research upgraded HCI Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $48.33.

In related news, CFO James Mark Harmsworth sold 5,500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $41.10, for a total transaction of $226,050.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 24.12% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HCI. BNP Paribas Arbitrage SA lifted its stake in shares of HCI Group by 175.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,516 shares of the insurance provider’s stock valued at $65,000 after acquiring an additional 966 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of HCI Group by 63.6% in the 1st quarter. SG Americas Securities LLC now owns 4,253 shares of the insurance provider’s stock valued at $182,000 after acquiring an additional 1,653 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of HCI Group by 42.8% in the 1st quarter. Victory Capital Management Inc. now owns 33,950 shares of the insurance provider’s stock valued at $1,451,000 after acquiring an additional 10,175 shares during the last quarter. Laurion Capital Management LP bought a new position in shares of HCI Group in the 1st quarter valued at $269,000. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of HCI Group by 587.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 17,753 shares of the insurance provider’s stock valued at $758,000 after acquiring an additional 15,170 shares during the last quarter. Hedge funds and other institutional investors own 61.86% of the company’s stock.

NYSE HCI traded up $0.14 on Friday, hitting $42.95. 74,401 shares of the company’s stock were exchanged, compared to its average volume of 81,975. The stock has a 50-day moving average of $40.82 and a 200-day moving average of $41.53. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.87. HCI Group has a 52 week low of $36.72 and a 52 week high of $59.32. The stock has a market cap of $350.19 million, a price-to-earnings ratio of 13.30 and a beta of 0.75.

HCI Group (NYSE:HCI) last released its earnings results on Tuesday, August 6th. The insurance provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.03. HCI Group had a return on equity of 7.95% and a net margin of 6.63%. The firm had revenue of $58.63 million during the quarter, compared to analysts’ expectations of $55.26 million. As a group, analysts predict that HCI Group will post 3 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Thursday, August 15th. HCI Group’s payout ratio is presently 49.54%.

About HCI Group

HCI Group, Inc engages in the property and casualty insurance, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners insurance, flood insurance, and wind-only insurance to homeowners, condominium owners, and tenants, as well as offers reinsurance programs.

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