Hippo Holdings Inc. (NYSE:HIPO) Sees Large Decrease in Short Interest

Hippo Holdings Inc. (NYSE:HIPO) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 1,520,000 shares, a decline of 11.1% from the July 15th total of 1,710,000 shares. Approximately 11.5% of the shares of the company are short sold. Based on an average daily volume of 159,100 shares, the short-interest ratio is presently 9.6 days.

Hippo Stock Up 0.7 %

Shares of HIPO opened at $18.47 on Monday. The stock’s 50-day moving average price is $17.09 and its 200 day moving average price is $17.15. Hippo has a 12-month low of $6.64 and a 12-month high of $25.49. The firm has a market capitalization of $451.22 million, a price-to-earnings ratio of -1.82 and a beta of 1.33.

Hippo (NYSE:HIPO) last issued its earnings results on Thursday, August 8th. The company reported ($1.64) EPS for the quarter, missing the consensus estimate of ($1.48) by ($0.16). Hippo had a negative return on equity of 46.46% and a negative net margin of 57.80%. The firm had revenue of $89.60 million during the quarter, compared to the consensus estimate of $85.40 million. During the same period last year, the business earned ($4.61) earnings per share. Equities research analysts expect that Hippo will post -4.68 EPS for the current year.

Insider Buying and Selling

In other Hippo news, CRO Yuval Harry sold 1,419 shares of Hippo stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $18.14, for a total value of $25,740.66. Following the transaction, the executive now directly owns 121,753 shares of the company’s stock, valued at approximately $2,208,599.42. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders sold 19,372 shares of company stock valued at $352,743. Insiders own 11.37% of the company’s stock.

Institutional Investors Weigh In On Hippo

A number of institutional investors have recently added to or reduced their stakes in HIPO. SVB Wealth LLC acquired a new stake in Hippo during the fourth quarter valued at approximately $122,000. Ieq Capital LLC acquired a new stake in Hippo during the fourth quarter valued at approximately $460,000. Dynamic Technology Lab Private Ltd acquired a new stake in Hippo during the fourth quarter valued at approximately $114,000. Trexquant Investment LP acquired a new stake in Hippo during the fourth quarter valued at approximately $327,000. Finally, Steamboat Capital Partners LLC acquired a new stake in Hippo during the first quarter valued at approximately $158,000. 43.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods downgraded shares of Hippo from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $22.00 to $20.00 in a report on Monday, July 22nd.

Hippo Company Profile

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.