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.
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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