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New 52-Week Low Could Prompt More Insider Buying At HCI

By Market News Video Staff, Thursday, March 12, 3:21 PM ET
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In trading on Thursday, shares of HCI Group Inc (NYSE:HCI) touched a new 52-week low of $35.50/share. That's a $12.74 share price drop, or -26.41% decline from the 52-week high of $48.24 set back on 02/18/2020. Large percentage drops always require that the stock post even larger percentage gains from the low in order to recover the old price point, and for HCI that means the stock would have to gain 35.89% to get back to the 52-week high. For a move like that, HCI Group Inc would need fundamental strength at the business level.

Here's a rhetorical question: Who knows more about fundamentals at the business level than the company's own insiders? So let's take a look to see whether any company insiders were taking the other side of the trade as HCI shares were being sold down to this new 52-week low, focusing on the most recent trailing six month period. As summarized by the table below, HCI has seen 2 different instances of insiders buying over the past six months.

Purchased Insider Title Shares Price/Share Value
11/13/2019 Robert Wayne Burks Director 4,400 $45.00 $197,995.60
11/25/2019 James J. Macchiarola Director 1,500 $45.47 $68,199.75

In the short run, while the new 52-week low suggests the stock is at the cheapest price and perhaps therefore the best bargain it has been over the last 52 weeks, the low print also means anyone who has purchased the stock over that timeframe is staring at an unrealized loss. Oftentimes, that factor drives a stock's technical analysis metrics by creating overhead resistance, with investors who bought higher now anxious to reverse their trade once they are back to breakeven. The chart below shows where HCI has traded over the past year, with the 50-day and 200-day moving averages included.

HCI Group Inc Moving Averages Chart

Time will tell whether the insider purchases foretell a future rebound for HCI shares, which are presently showing a last trade of $36.55/share, a 2.96% rebound off of the new 52-week low.


This Article's Word Cloud:   Bargains   Burks   Cheaper   Director   Group   Here   Insider   Insiders   James   Large   Macchiarola   NYSE   Oftentimes   Price   Purchased   Robert   Share   Shares   Start   Than   That   Thursday   Time   Title   Value   back   below   business   company   from   high   insiders   last   level   means   over   past   percentage   price   rebound   share   shares   stock   that   trade   week   were   whether   with   would
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