Hagerty, Inc. (NYSE:HGTY) Short Interest Down 9.0% in September

Hagerty, Inc. (NYSE:HGTY) saw a large 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. Approximately 0.6% of the company’s shares are sold short. Based on an average daily trading volume, of 118,300 shares, the days-to-cover ratio is currently 3.7 days.

Analyst Ratings Changes

HGTY has been the subject of a number of analyst reports. Truist Financial upped their price objective on Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on shares of Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, July 11th.

Hagerty Stock Up 2.1 %

NYSE HGTY traded up $0.21 during trading on Tuesday, hitting $10.38. The company’s stock had a trading volume of 106,908 shares, compared to its average volume of 82,040. Hagerty has a fifty-two week low of $7.52 and a fifty-two week high of $12.35. The company has a market cap of $3.50 billion, a PE ratio of 173.00 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. The business’s 50 day simple moving average is $11.08 and its 200-day simple moving average is $10.11.

Hagerty (NYSE:HGTY) last released its earnings results on Tuesday, August 6th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. Hagerty had a net margin of 5.37% and a return on equity of 15.68%. The company had revenue of $313.23 million during the quarter, compared to analysts’ expectations of $312.64 million. On average, equities analysts anticipate that Hagerty will post 0.26 EPS for the current fiscal year.

Insider Activity at Hagerty

In related news, Director Robert I. Kauffman sold 2,481 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $10.75, for a total value of $26,670.75. Following the transaction, the director now owns 5,154,354 shares of the company’s stock, valued at $55,409,305.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Hagerty news, Director Robert I. Kauffman sold 2,481 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $10.75, for a total transaction of $26,670.75. Following the transaction, the director now directly owns 5,154,354 shares in the company, valued at approximately $55,409,305.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert I. Kauffman sold 6,202 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $11.07, for a total transaction of $68,656.14. Following the completion of the sale, the director now owns 5,528,496 shares of the company’s stock, valued at approximately $61,200,450.72. The disclosure for this sale can be found here. Insiders sold 198,626 shares of company stock worth $2,199,578 in the last 90 days. 17.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HGTY. Blue Trust Inc. purchased a new stake in shares of Hagerty in the 2nd quarter valued at $39,000. Algert Global LLC purchased a new stake in Hagerty in the second quarter valued at $108,000. Dimensional Fund Advisors LP acquired a new stake in Hagerty during the 2nd quarter worth about $139,000. Meixler Investment Management Ltd. raised its stake in shares of Hagerty by 21.2% during the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock valued at $223,000 after buying an additional 4,250 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in shares of Hagerty by 34.7% in 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. Hedge funds and other institutional investors 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.