Cutler Capital Management Lowers stake in HCI Group Inc (HCI)

HCI Group Inc (HCI) : Cutler Capital Management reduced its stake in HCI Group Inc by 0.82% during the most recent quarter end. The investment management company now holds a total of 205,706 shares of HCI Group Inc which is valued at $6,162,952 after selling 1,700 shares in HCI Group Inc , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.HCI Group Inc makes up approximately 2.78% of Cutler Capital Management’s portfolio.

HCI Group Inc opened for trading at $30 and hit $30.55 on the upside on Monday, eventually ending the session at $30.29, with a gain of 1.10% or 0.33 points. The heightened volatility saw the trading volume jump to 1,03,973 shares. Company has a market cap of $327 M.

Other Hedge Funds, Including , Texas Permanent School Fund reduced its stake in HCI by selling 312 shares or 4.16% in the most recent quarter. The Hedge Fund company now holds 7,182 shares of HCI which is valued at $215,173.Metlife Securities Inc boosted its stake in HCI in the latest quarter, The investment management firm added 65 additional shares and now holds a total of 464 shares of HCI Group Inc which is valued at $14,403. First Citizens Bank Trust Co sold out all of its stake in HCI during the most recent quarter. The investment firm sold 18,929 shares of HCI which is valued $587,556. Acadian Asset Management sold out all of its stake in HCI during the most recent quarter. The investment firm sold 21,089 shares of HCI which is valued $695,726.Capital Impact Advisors boosted its stake in HCI in the latest quarter, The investment management firm added 19,192 additional shares and now holds a total of 28,897 shares of HCI Group Inc which is valued at $953,312. HCI Group Inc makes up approx 0.45% of Capital Impact Advisors’s portfolio.

On the company’s financial health, HCI Group Inc reported $1.05 EPS for the quarter, missing the analyst consensus estimate by $ -0.13 based on the information available during the earnings call on Mar 3, 2016. Analyst had a consensus of $1.18. The company had revenue of $63.41 million for the quarter, compared to analysts expectations of $67.20 million. The company’s revenue was down -2.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.30 EPS.

HCI Group Inc. (HCI) is a holding company. The Company’s operations include Insurance Operations which offers property and casualty insurance and reinsurance and Other Operations which include IT and real estate. Property and Casualty Insurance business is managed by its subsidiary Homeowners Choice Property & Casualty Insurance Company Inc. (HCPCI). Through HCPCI the Company provides property and casualty insurance to homeowners condominium owners and tenants residing in Florida. The Company manages its reinsurance business through its Bermuda domiciled wholly owned subsidiary Claddaugh Casualty Insurance Company Ltd. (Claddaugh). HCI’s IT operations include a team of experienced software developers with knowledge in developing Web-based products and applications for mobile devices. The Company’s real estate operations consist of several properties it owns including the headquarters building in Tampa Florida and a secondary insurance operations site in Ocala Florida.

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