Hippo Holdings Inc. (NYSE:HIPO) Short Interest Down 8.0% in August

Hippo Holdings Inc. (NYSE:HIPO) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 1,380,000 shares, a drop of 8.0% from the August 15th total of 1,500,000 shares. Based on an average daily volume of 149,100 shares, the short-interest ratio is presently 9.3 days. Currently, 10.2% of the shares of the company are sold short.

Insider Transactions at Hippo

In other Hippo news, CRO Yuval Harry sold 2,958 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $18.49, for a total transaction of $54,693.42. Following the completion of the transaction, the executive now directly owns 104,247 shares of the company’s stock, valued at $1,927,527.03. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 11.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Hood River Capital Management LLC raised its position in shares of Hippo by 79.4% in the first quarter. Hood River Capital Management LLC now owns 326,343 shares of the company’s stock worth $5,962,000 after buying an additional 144,459 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Hippo by 6.3% in the first quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock worth $13,872,000 after purchasing an additional 45,058 shares during the last quarter. PEAK6 Investments LLC purchased a new stake in Hippo in the first quarter valued at approximately $277,000. Trexquant Investment LP bought a new stake in Hippo during the fourth quarter valued at approximately $327,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Hippo by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,328 shares of the company’s stock worth $427,000 after buying an additional 801 shares in the last quarter. 43.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their target price on shares of Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a research note on Monday, August 19th.

Hippo Trading Down 3.9 %

Shares of NYSE HIPO traded down $0.70 during mid-day trading on Thursday, hitting $17.43. The company had a trading volume of 197,689 shares, compared to its average volume of 158,559. The stock’s 50-day moving average price is $18.38 and its 200-day moving average price is $18.37. The company has a market capitalization of $434.36 million, a price-to-earnings ratio of -1.73 and a beta of 1.35. Hippo has a 1 year low of $6.64 and a 1 year high of $25.49.

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

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.