Is Heritage Insurance Holdings Inc (HRTG) A Good Stock To Buy?

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Consequently, specific money managers were breaking ground themselves. Chuck Royce’s Royce & Associates created the most outsized position in Heritage Insurance Holdings Inc (NYSE:HRTG). Royce & Associates had $4.2 million invested in the company at the end of the quarter. Matthew Hulsizer’s PEAK6 Capital Management also initiated a $2.6 million position during the quarter. The only other fund with a new position in the stock is Ken Griffin’s Citadel Investment Group.

Let’s now review hedge fund activity in other stocks similar to Heritage Insurance Holdings Inc (NYSE:HRTG). We will take a look at Gladstone Commercial Corporation (NASDAQ:GOOD), Mercantile Bank Corp. (NASDAQ:MBWM), Western Asset Mortgage Capital Corp (NYSE:WMC), and Monarch Casino & Resort, Inc. (NASDAQ:MCRI). This group of stocks’ market caps resemble HRTG’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
GOOD 8 33797 1
MBWM 6 23502 0
WMC 6 6129 2
MCRI 10 46957 -4

As you can see these stocks had an average of seven investors with bullish positions and the average amount invested in these stocks was $28 million, versus $38 million in HRTG’s case. Monarch Casino & Resort, Inc. (NASDAQ:MCRI) is the most popular stock in this table. On the other hand Mercantile Bank Corp. (NASDAQ:MBWM) is the least popular one with only six bullish hedge fund positions. Compared to these stocks Heritage Insurance Holdings Inc (NYSE:HRTG) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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Disclosure: None




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