Short Interest in Hagerty, Inc. (NYSE:HGTY) Declines By 6.2%

Hagerty, Inc. (NYSE:HGTY) saw a significant decrease in short interest in January. As of January 31st, there was short interest totalling 300,600 shares, a decrease of 6.2% from the January 15th total of 320,600 shares. Based on an average daily volume of 77,700 shares, the days-to-cover ratio is presently 3.9 days. Currently, 0.4% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Raymond James lowered shares of Hagerty from a “market perform” rating to an “underperform” rating in a research report on Thursday, December 26th.

Hagerty Stock Up 0.3 %

HGTY opened at $10.10 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. Hagerty has a twelve month low of $8.27 and a twelve month high of $12.35. The business has a 50 day moving average price of $9.98 and a 200 day moving average price of $10.68. The firm has a market cap of $3.44 billion, a P/E ratio of 91.77 and a beta of 0.85.

Insider Transactions at Hagerty

In other news, Director Robert I. Kauffman sold 3,541 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $10.09, for a total transaction of $35,728.69. Following the completion of the transaction, the director now owns 4,303,181 shares in the company, valued at approximately $43,419,096.29. This trade represents a 0.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders sold 198,064 shares of company stock valued at $2,081,423. 17.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hagerty

Several large investors have recently made changes to their positions in the business. Blue Trust Inc. grew its stake in shares of Hagerty by 178.6% in the third quarter. Blue Trust Inc. now owns 10,542 shares of the company’s stock worth $110,000 after acquiring an additional 6,758 shares during the last quarter. Goldstone Financial Group LLC acquired a new stake in Hagerty in the 3rd quarter worth $236,000. 17 Capital Partners LLC raised its position in shares of Hagerty by 10.0% during the third quarter. 17 Capital Partners LLC now owns 55,000 shares of the company’s stock valued at $559,000 after buying an additional 5,000 shares during the last quarter. Meixler Investment Management Ltd. lifted its stake in shares of Hagerty by 9.7% in the third quarter. Meixler Investment Management Ltd. now owns 27,455 shares of the company’s stock valued at $279,000 after buying an additional 2,430 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Hagerty by 376.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,143 shares of the company’s stock worth $988,000 after buying an additional 76,740 shares in the last quarter. Institutional investors and hedge funds own 20.51% of the company’s stock.

Hagerty Company Profile

Hagerty, Inc provides insurance agency services worldwide. It offers motor vehicle and boat insurance products; and reinsurance products. The company provides Hagerty Media, which publishes contents through the Hagerty Drivers Club Magazine (HDC), video content, and social media channels; HDC that offers subscription based products and services, including HDC Magazine, automotive enthusiast events, proprietary vehicle valuation tools, emergency roadside services, and special vehicle-related discounts.