Hagerty (NYSE:HGTY) Sets New 52-Week Low – What’s Next?

Hagerty, Inc. (NYSE:HGTY)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $6.52 and last traded at $8.66, with a volume of 427 shares changing hands. The stock had previously closed at $8.64.

Analyst Ratings Changes

A number of research analysts have recently issued reports on HGTY shares. JPMorgan Chase & Co. decreased their target price on Hagerty from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Raymond James lowered shares of Hagerty from a “market perform” rating to an “underperform” rating in a research report on Thursday, December 26th.

Hagerty Price Performance

The company has a 50-day moving average of $9.36 and a 200 day moving average of $10.13. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $2.94 billion, a PE ratio of 78.31 and a beta of 0.88.

Insider Transactions at Hagerty

In other Hagerty news, Director Laurie Harris sold 3,934 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $8.41, for a total value of $33,084.94. Following the completion of the sale, the director now owns 30,349 shares in the company, valued at approximately $255,235.09. This represents a 11.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert I. Kauffman sold 5,044 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $9.70, for a total value of $48,926.80. Following the transaction, the director now owns 4,361,998 shares in the company, valued at approximately $42,311,380.60. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,917 shares of company stock valued at $806,375 over the last 90 days. 17.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HGTY. Neuberger Berman Group LLC boosted its holdings in Hagerty by 11.4% in the 4th quarter. Neuberger Berman Group LLC now owns 4,725,196 shares of the company’s stock valued at $45,598,000 after purchasing an additional 483,324 shares during the last quarter. Markel Group Inc. increased its stake in Hagerty by 3.6% during the fourth quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock worth $29,992,000 after acquiring an additional 108,000 shares during the last quarter. Pembroke Management LTD purchased a new stake in Hagerty in the fourth quarter valued at $9,201,000. Lincoln Capital LLC grew its holdings in shares of Hagerty by 6.7% during the 4th quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock worth $4,772,000 after purchasing an additional 31,068 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Hagerty by 21.6% during the 4th quarter. Renaissance Technologies LLC now owns 193,896 shares of the company’s stock worth $1,871,000 after purchasing an additional 34,500 shares during 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.