Hagerty, Inc. (NYSE:HGTY) Short Interest Update

Hagerty, Inc. (NYSE:HGTY) saw a large decrease in short interest in February. As of February 28th, there was short interest totalling 260,400 shares, a decrease of 15.5% from the February 13th total of 308,100 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average daily volume of 52,100 shares, the short-interest ratio is currently 5.0 days.

Insider Activity

In related news, Director Robert I. Kauffman sold 2,687 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $9.98, for a total transaction of $26,816.26. Following the completion of the transaction, the director now owns 4,449,856 shares in the company, valued at $44,409,562.88. This represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 117,398 shares of company stock valued at $1,152,662. Corporate insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS bought a new position in shares of Hagerty during the fourth quarter worth $31,000. Ancora Advisors LLC purchased a new position in shares of Hagerty during the 4th quarter worth about $46,000. R Squared Ltd purchased a new stake in shares of Hagerty in the fourth quarter worth approximately $51,000. FMR LLC boosted its stake in shares of Hagerty by 25,769.2% during the third quarter. FMR LLC now owns 6,726 shares of the company’s stock valued at $68,000 after purchasing an additional 6,700 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in Hagerty in the 4th quarter valued at about $84,000. 20.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Hagerty Stock Performance

Shares of NYSE HGTY traded up $0.04 during trading on Wednesday, reaching $9.23. 57,630 shares of the company traded hands, compared to its average volume of 52,541. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. Hagerty has a 52-week low of $8.30 and a 52-week high of $12.35. The stock has a market capitalization of $3.15 billion, a PE ratio of 83.91 and a beta of 0.84. The firm has a 50 day simple moving average of $9.79 and a 200-day simple moving average of $10.48.

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.