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

Hagerty, Inc. (NYSE:HGTY) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 300,600 shares, a decline 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 currently 3.9 days. Approximately 0.4% of the shares of the company are sold short.

Insider Buying and Selling

In other news, Director Robert I. Kauffman sold 3,541 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 directly owns 4,303,181 shares in the company, valued at $43,419,096.29. The trade was a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 198,064 shares of company stock worth $2,081,423. 17.90% of the stock is currently owned by insiders.

Institutional Trading of Hagerty

A number of institutional investors and hedge funds have recently modified their holdings of the company. Meixler Investment Management Ltd. increased its position in shares of Hagerty by 9.7% during the third quarter. Meixler Investment Management Ltd. now owns 27,455 shares of the company’s stock valued at $279,000 after purchasing an additional 2,430 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Hagerty by 35.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock valued at $100,000 after purchasing an additional 2,726 shares during the period. Swiss National Bank increased its position in shares of Hagerty by 6.0% during the fourth quarter. Swiss National Bank now owns 53,000 shares of the company’s stock valued at $511,000 after purchasing an additional 3,000 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Hagerty during the fourth quarter valued at approximately $31,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Hagerty by 7.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,205 shares of the company’s stock valued at $620,000 after purchasing an additional 4,575 shares during the period. 20.51% of the stock is currently owned by institutional investors.

Hagerty Stock Performance

HGTY opened at $10.04 on Tuesday. The stock has a market cap of $3.42 billion, a PE ratio of 91.27 and a beta of 0.85. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23. Hagerty has a 1 year low of $8.27 and a 1 year high of $12.35. The stock’s 50 day simple moving average is $10.00 and its 200-day simple moving average is $10.69.

Wall Street Analysts Forecast Growth

Separately, Raymond James lowered Hagerty from a “market perform” rating to an “underperform” rating in a report 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.