Dark Forest Capital Management LP Makes New Investment in HCI Group, Inc. (NYSE:HCI)

Dark Forest Capital Management LP bought a new position in HCI Group, Inc. (NYSE:HCI) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,701 shares of the insurance provider’s stock, valued at approximately $249,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Khrom Capital Management LLC raised its position in shares of HCI Group by 225.3% during the 2nd quarter. Khrom Capital Management LLC now owns 587,204 shares of the insurance provider’s stock valued at $54,123,000 after buying an additional 406,698 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of HCI Group during the 4th quarter valued at $5,633,000. American Century Companies Inc. raised its position in shares of HCI Group by 130.5% during the 2nd quarter. American Century Companies Inc. now owns 110,271 shares of the insurance provider’s stock valued at $10,164,000 after buying an additional 62,438 shares in the last quarter. Hood River Capital Management LLC raised its position in shares of HCI Group by 6.3% during the 2nd quarter. Hood River Capital Management LLC now owns 767,544 shares of the insurance provider’s stock valued at $70,745,000 after buying an additional 45,668 shares in the last quarter. Finally, West Coast Financial LLC purchased a new stake in shares of HCI Group during the 2nd quarter valued at $3,407,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on HCI shares. JMP Securities restated a “market outperform” rating and set a $145.00 price objective on shares of HCI Group in a research report on Monday, September 23rd. StockNews.com cut shares of HCI Group from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $130.25.

HCI Group Price Performance

HCI stock opened at $107.66 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.44. HCI Group, Inc. has a 52 week low of $52.08 and a 52 week high of $121.57. The firm’s fifty day moving average is $96.21 and its 200 day moving average is $100.64. The firm has a market cap of $1.13 billion, a P/E ratio of 10.95 and a beta of 1.13.

HCI Group (NYSE:HCI) last released its earnings results on Thursday, August 8th. The insurance provider reported $4.21 EPS for the quarter, beating the consensus estimate of $3.58 by $0.63. The company had revenue of $206.25 million for the quarter, compared to analyst estimates of $196.67 million. HCI Group had a net margin of 21.63% and a return on equity of 44.01%. During the same quarter last year, the firm earned $1.22 EPS. Research analysts predict that HCI Group, Inc. will post 12.37 earnings per share for the current year.

HCI Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 16th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Friday, August 16th. HCI Group’s dividend payout ratio (DPR) is presently 16.28%.

About HCI Group

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.