Sunday, December 4, 2022

Is HCI Group (HCI) Nonetheless a Good Funding Choose?

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Bernzott Capital Advisors, an funding administration agency, printed its “US Small Cap Worth Fund” third-quarter 2022 investor letter – a duplicate of which could be downloaded right here. Throughout the third quarter of the 12 months, the portfolio fell –9.48% (internet), under the R2000V’s decline of –4.6% and the R2500V’s decline of –4.5%. Attempt to spare a while to verify the fund’s prime 5 holdings so that you can have an concept about their finest inventory picks this 2022.

In its Q3 2022 investor letter, Bernzott Capital Advisors US Small Cap Worth Fund talked about HCI Group, Inc. (NYSE:HCI) and defined its insights for the corporate. Based in 2006, HCI Group, Inc. (NYSE:HCI) is a Tampa, Florida-based insurance coverage firm with a $337.2 million market capitalization. HCI Group, Inc. (NYSE:HCI) delivered a -53.90% return for the reason that starting of the 12 months, whereas its 12-month returns are down by -67.01%. The inventory closed at $38.51 per share on November 23, 2022.

Here’s what Bernzott Capital Advisors US Small Cap Worth Fund has to say about HCI Group, Inc. (NYSE:HCI) in its Q3 2022 investor letter:

HCI (HCI): The property and casualty insurer with vital Florida presence reported disappointing earnings inflicting the inventory to fall. Inflationary pressures weighed on prices and harm earnings. On a optimistic observe, gross written premiums grew modestly general with continued energy in its TypTap unit, now energetic in 12 states, which posted 20% development. Because the quarter closed, Hurricane Ian pressured the inventory as buyers feared vital losses. Regardless of these considerations, HCI confronted this storm from a place of relative energy. Earlier within the quarter, the corporate finalized its reinsurance program with pricing and phrases similar to final 12 months and with substantial limits. It additionally elevated its monetary flexibility by elevating $170 million in convertible notes. Lots of its friends have been crippled, in some instances to the purpose of liquidation, placing HCI able to capitalize on worth will increase amid an enhancing aggressive place.”


Our calculations present that HCI Group, Inc. (NYSE:HCI) fell brief and didn’t make it on our listing of the 30 Most Fashionable Shares Amongst Hedge Funds. HCI Group, Inc. (NYSE:HCI) was in 12 hedge fund portfolios on the finish of the second quarter of 2022, in comparison with 14 funds within the earlier quarter. HCI Group, Inc. (NYSE:HCI) delivered a -23.88% return prior to now 3 months.

In September 2022, we additionally shared one other hedge fund’s views on HCI Group, Inc. (NYSE:HCI) in one other article. You will discover different investor letters from hedge funds and distinguished buyers on our hedge fund investor letters 2022 Q3 web page.

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Disclosure: None. This text is initially printed at Insider Monkey.

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