HCI jumps to 9-month high after quarterly results

HCI

10/05/2023 20:01

** HCI Group  HCI.N  shares up 17.85% at $59.49 after hitting
intraday high of $60.80, highest level since August 10
    ** The insurance provider posted Q1 adjusted EPS of $1.50 on
revenue of $129.03 mln versus estimates of 10 cents per share
and $121.14 mln, per Refinitiv data, after the close on Tuesday
    ** Among the 4 analysts that cover HCI, the breakdown of
recommendations is 3 "strong buy" or "buy," 1 "hold" and no
"sell" or "strong sell" ratings
    ** Median price target of $75 is unchanged over the past
three months
    ** Stock now above both 50-day and 200-day moving avgs for
the first time since April 24
    ** HCI shares up ~50% YTD vs ~9% fall in S&P 600 insurance
 .SPSMCINSE  sector


 (Reporting by Chuck Mikolajczak)
 ((charles.mikolajczak@tr.com; @ChuckMik;))