Hagerty (NYSE:HGTY) Shares Gap Up – Here’s What Happened

Hagerty, Inc. (NYSE:HGTY)’s share price gapped up before the market opened on Friday . The stock had previously closed at $9.33, but opened at $9.65. Hagerty shares last traded at $9.45, with a volume of 1,260 shares trading hands.

Wall Street Analyst Weigh In

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

Hagerty Trading Down 4.0 %

The company has a market cap of $3.05 billion, a PE ratio of 81.41 and a beta of 0.84. The stock’s 50 day moving average is $9.74 and its 200-day moving average is $10.36. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23.

Insider Activity

In other news, Director Robert I. Kauffman sold 3,878 shares of Hagerty stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $9.57, for a total value of $37,112.46. Following the completion of the transaction, the director now owns 4,442,459 shares in the company, valued at approximately $42,514,332.63. The trade was a 0.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 115,309 shares of company stock worth $1,115,200. 17.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Hagerty

A number of institutional investors have recently bought and sold shares of the stock. KLP Kapitalforvaltning AS bought a new position in Hagerty during the fourth quarter valued at $31,000. Ancora Advisors LLC purchased a new position in shares of Hagerty during the 4th quarter worth about $46,000. R Squared Ltd bought a new position in Hagerty during the 4th quarter valued at about $51,000. FMR LLC grew its holdings in Hagerty by 25,769.2% during the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock valued at $68,000 after purchasing an additional 6,700 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Hagerty in the 4th quarter worth about $84,000. 20.51% of the stock is currently owned by institutional investors.

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.