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

Hagerty, Inc. (NYSE:HGTY) saw a large decrease in short interest during the month of 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. Based on an average trading volume of 52,100 shares, the short-interest ratio is presently 5.0 days. Currently, 0.3% of the company’s stock are sold short.

Hagerty Stock Performance

Shares of Hagerty stock traded up $0.04 during mid-day trading on Wednesday, hitting $9.23. 57,630 shares of the stock were exchanged, compared to its average volume of 52,541. Hagerty has a 12 month low of $8.30 and a 12 month high of $12.35. The company has a 50-day simple moving average of $9.79 and a 200 day simple moving average of $10.48. The company has a market capitalization of $3.15 billion, a P/E ratio of 83.91 and a beta of 0.84. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01.

Insider Buying and Selling

In other news, Director Robert I. Kauffman sold 3,242 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $10.03, for a total value of $32,517.26. Following the completion of the sale, the director now directly owns 4,285,877 shares of the company’s stock, valued at $42,987,346.31. This represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 117,398 shares of company stock worth $1,152,662 in the last quarter. Insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HGTY. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Hagerty by 376.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,143 shares of the company’s stock valued at $988,000 after buying an additional 76,740 shares during the period. FMR LLC increased its position in shares of Hagerty by 25,769.2% in the third quarter. FMR LLC now owns 6,726 shares of the company’s stock worth $68,000 after purchasing an additional 6,700 shares during the last quarter. Caz Investments LP increased its holdings in shares of Hagerty by 66.7% in the 3rd quarter. Caz Investments LP now owns 25,000 shares of the company’s stock worth $258,000 after buying an additional 10,000 shares during the last quarter. PDT Partners LLC purchased a new stake in Hagerty during the third quarter valued at about $185,000. Finally, Barclays PLC boosted its holdings in shares of Hagerty by 23.0% in the 3rd quarter. Barclays PLC now owns 31,675 shares of the company’s stock worth $321,000 after purchasing an additional 5,932 shares in the last quarter. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.