Short Interest in Hippo Holdings Inc. (NYSE:HIPO) Declines By 6.8%

Hippo Holdings Inc. (NYSE:HIPO) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 1,360,000 shares, a drop of 6.8% from the October 15th total of 1,460,000 shares. Approximately 9.8% of the company’s shares are short sold. Based on an average trading volume of 125,600 shares, the short-interest ratio is currently 10.8 days.

Insider Buying and Selling

In other Hippo news, CEO Richard Mccathron sold 10,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $25.55, for a total transaction of $255,500.00. Following the transaction, the chief executive officer now owns 366,146 shares in the company, valued at $9,355,030.30. The trade was a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Assaf Wand sold 12,250 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $16.19, for a total transaction of $198,327.50. Following the completion of the sale, the chairman now directly owns 548,064 shares in the company, valued at approximately $8,873,156.16. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,657 shares of company stock worth $538,171. Corporate insiders own 11.37% of the company’s stock.

Institutional Investors Weigh In On Hippo

Hedge funds have recently made changes to their positions in the company. Caz Investments LP increased its stake in shares of Hippo by 100.0% during the third quarter. Caz Investments LP now owns 5,600 shares of the company’s stock valued at $95,000 after buying an additional 2,800 shares during the period. SG Americas Securities LLC bought a new stake in shares of Hippo in the 3rd quarter valued at about $174,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Hippo in the 3rd quarter worth approximately $174,000. AQR Capital Management LLC bought a new position in shares of Hippo during the second quarter valued at approximately $194,000. Finally, PEAK6 Investments LLC purchased a new position in Hippo during the first quarter valued at approximately $277,000. 43.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on HIPO shares. Keefe, Bruyette & Woods raised their price target on Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a research note on Monday, August 19th. Jefferies Financial Group decreased their target price on Hippo from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th.

Hippo Trading Up 4.7 %

Shares of NYSE HIPO opened at $28.59 on Tuesday. Hippo has a 52-week low of $7.75 and a 52-week high of $29.74. The stock has a 50 day moving average price of $19.99 and a 200 day moving average price of $18.51.

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.