Hagerty, Inc. (NYSE:HGTY – Get Free Report) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totalling 436,000 shares, a drop of 9.0% from the August 31st total of 479,000 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 118,300 shares, the days-to-cover ratio is currently 3.7 days.
Hagerty Trading Up 2.1 %
Shares of NYSE HGTY traded up $0.21 during midday trading on Tuesday, hitting $10.38. The stock had a trading volume of 106,908 shares, compared to its average volume of 82,040. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 173.00 and a beta of 0.81. Hagerty has a 1-year low of $7.52 and a 1-year high of $12.35. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average price of $11.08 and a 200 day moving average price of $10.11.
Hagerty (NYSE:HGTY – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. The business had revenue of $313.23 million for the quarter, compared to analyst estimates of $312.64 million. Hagerty had a return on equity of 15.68% and a net margin of 5.37%. On average, analysts predict that Hagerty will post 0.26 earnings per share for the current year.
Wall Street Analyst Weigh In
Check Out Our Latest Research Report on HGTY
Insider Activity
In other news, Director Robert I. Kauffman sold 4,548 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $11.04, for a total value of $50,209.92. Following the completion of the transaction, the director now owns 5,539,102 shares in the company, valued at $61,151,686.08. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Robert I. Kauffman sold 14,853 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $10.86, for a total value of $161,303.58. Following the completion of the transaction, the director now owns 5,471,805 shares in the company, valued at $59,423,802.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert I. Kauffman sold 4,548 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $11.04, for a total value of $50,209.92. Following the sale, the director now directly owns 5,539,102 shares in the company, valued at approximately $61,151,686.08. The disclosure for this sale can be found here. Insiders sold a total of 198,626 shares of company stock worth $2,199,578 over the last 90 days. 17.90% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Hagerty
Several hedge funds and other institutional investors have recently modified their holdings of the company. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in shares of Hagerty by 34.7% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after buying an additional 26,600 shares during the period. Confluence Investment Management LLC purchased a new stake in Hagerty during the 1st quarter worth approximately $3,473,000. Meixler Investment Management Ltd. increased its holdings in Hagerty by 21.2% during the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after purchasing an additional 4,250 shares during the last quarter. Vanguard Group Inc. increased its holdings in Hagerty by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock worth $18,559,000 after purchasing an additional 21,331 shares during the last quarter. Finally, Blue Trust Inc. purchased a new stake in Hagerty during the 2nd quarter worth approximately $39,000. 20.51% of the stock is owned by institutional investors and hedge funds.
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.
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