Hippo Holdings Inc. (NYSE:HIPO) Short Interest Update

Hippo Holdings Inc. (NYSE:HIPO) was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totalling 1,200,000 shares, a decline of 15.5% from the March 15th total of 1,420,000 shares. Based on an average daily volume of 186,400 shares, the short-interest ratio is currently 6.4 days. Currently, 8.9% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reduced their price target on shares of Hippo from $43.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, April 11th.

Hippo Price Performance

Shares of HIPO opened at $24.38 on Monday. Hippo has a 1 year low of $14.58 and a 1 year high of $35.44. The stock’s fifty day moving average price is $26.57 and its two-hundred day moving average price is $26.12. The firm has a market cap of $611.42 million, a PE ratio of -4.68 and a beta of 1.49.

Hippo (NYSE:HIPO) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.08. The business had revenue of $102.00 million during the quarter, compared to analyst estimates of $97.83 million. Hippo had a negative net margin of 37.94% and a negative return on equity of 36.38%. Sell-side analysts anticipate that Hippo will post -3.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michael Stienstra sold 2,329 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $30.02, for a total value of $69,916.58. Following the completion of the sale, the insider now owns 59,648 shares in the company, valued at $1,790,632.96. This represents a 3.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Torben Ostergaard sold 21,146 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $30.05, for a total transaction of $635,437.30. Following the completion of the sale, the chief executive officer now directly owns 74,120 shares of the company’s stock, valued at $2,227,306. The trade was a 22.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,997 shares of company stock valued at $1,469,538. Corporate insiders own 11.37% of the company’s stock.

Institutional Investors Weigh In On Hippo

Hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. grew its stake in Hippo by 1.5% during the fourth quarter. Invesco Ltd. now owns 35,866 shares of the company’s stock valued at $960,000 after acquiring an additional 539 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Hippo by 13.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 11,736 shares of the company’s stock valued at $314,000 after purchasing an additional 1,400 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Hippo by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 152,664 shares of the company’s stock worth $4,087,000 after purchasing an additional 1,424 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Hippo by 5.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,768 shares of the company’s stock worth $717,000 after buying an additional 1,434 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in Hippo by 13.3% during the fourth quarter. MetLife Investment Management LLC now owns 13,394 shares of the company’s stock valued at $359,000 after buying an additional 1,573 shares during the period. 43.01% of the stock is currently owned by institutional investors.

About Hippo

Hippo Holdings Inc provides property and casualty insurance products to individuals and business customers primarily in the United States. The company operates through three segments: Services, Insurance-as-a-Service, and Hippo Home Insurance Program. Its insurance products include homeowners' insurance against risks of fire, wind, and theft, as well as other personal lines policies from third party carriers; and personal and commercial, as well as home, auto, cyber, small business, life, specialty lines, and other insurance products.