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

HCI Group, Inc. (NYSE:HCI) was the target of a large growth in short interest in 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 days-to-cover ratio is presently 7.7 days. Approximately 15.3% of the shares of the stock are sold short.

HCI Group Trading Up 1.9 %

Shares of HCI stock traded up $2.30 on Wednesday, reaching $121.28. 35,094 shares of the company’s stock were exchanged, 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 company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $1.28 billion, a PE ratio of 9.93 and a beta of 1.11. The company’s fifty day simple moving average is $113.11 and its 200 day simple moving average is $101.03.

HCI Group Announces Dividend

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

Institutional Investors Weigh In On HCI Group

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd bought a new stake in HCI Group during the 2nd quarter valued at $26,000. Gladius Capital Management LP bought a new stake in HCI Group during the 2nd quarter valued at $31,000. GAMMA Investing LLC raised its position in HCI Group by 80.9% during the 3rd quarter. GAMMA Investing LLC now owns 398 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 178 shares in the last quarter. CWM LLC raised its position in HCI Group by 115.4% during the 2nd quarter. CWM LLC now owns 924 shares of the insurance provider’s stock valued at $85,000 after purchasing an additional 495 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in HCI Group by 49.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 911 shares of the insurance provider’s stock valued at $98,000 after purchasing an additional 300 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial raised 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. Oppenheimer raised their price objective on HCI Group from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $145.00 price objective on shares of HCI Group in a research note on Tuesday, October 15th. Finally, Compass Point reaffirmed a “neutral” rating and issued a $120.00 price objective (up from $119.00) on shares of HCI Group in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $140.00.

HCI Group Company Profile

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.