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

Hagerty, Inc. (NYSE:HGTY) was the recipient of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 300,600 shares, a drop of 6.2% from the January 15th total of 320,600 shares. Based on an average daily trading volume, of 77,700 shares, the short-interest ratio is presently 3.9 days. Currently, 0.4% of the company’s shares are sold short.

Insider Buying and Selling at Hagerty

In other news, Director Robert I. Kauffman sold 6,355 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $11.79, for a total value of $74,925.45. Following the transaction, the director now owns 4,560,989 shares of the company’s stock, valued at approximately $53,774,060.31. This trade represents a 0.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 143,652 shares of company stock worth $1,462,699. Insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HGTY. Meixler Investment Management Ltd. increased its stake in Hagerty by 9.7% during the 3rd quarter. Meixler Investment Management Ltd. now owns 27,455 shares of the company’s stock worth $279,000 after purchasing an additional 2,430 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Hagerty by 35.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock valued at $100,000 after buying 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 worth $511,000 after acquiring an additional 3,000 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Hagerty during the fourth quarter worth $31,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Hagerty by 7.7% in the 4th 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 acquiring an additional 4,575 shares in the last quarter. 20.51% of the stock is currently owned by institutional investors.

Hagerty Stock Up 0.2 %

Shares of NYSE:HGTY opened at $10.10 on Thursday. The company has a 50 day moving average price of $9.96 and a two-hundred day moving average price of $10.68. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $3.44 billion, a PE ratio of 91.77 and a beta of 0.85. Hagerty has a 52 week low of $8.27 and a 52 week high of $12.35.

Analysts Set New Price Targets

Separately, Raymond James cut shares of Hagerty from a “market perform” rating to an “underperform” rating in a research 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.