Renaissance Technologies LLC Trims Stock Position in Hagerty, Inc. (NYSE:HGTY)

Renaissance Technologies LLC lessened its stake in Hagerty, Inc. (NYSE:HGTY) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,196 shares of the company’s stock after selling 4,804 shares during the quarter. Renaissance Technologies LLC’s holdings in Hagerty were worth $876,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. acquired a new position in shares of Hagerty during the second quarter worth $39,000. Meixler Investment Management Ltd. lifted its position in shares of Hagerty by 21.2% during the first 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. Dimensional Fund Advisors LP acquired a new position in Hagerty in the second quarter worth about $139,000. Vanguard Group Inc. increased its holdings in shares of Hagerty by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock valued at $18,559,000 after acquiring an additional 21,331 shares during the last quarter. Finally, Confluence Investment Management LLC acquired a new stake in shares of Hagerty during the 1st quarter valued at approximately $3,473,000. 20.51% of the stock is owned by institutional investors and hedge funds.

Hagerty Stock Down 2.2 %

HGTY stock opened at $10.44 on Tuesday. The company has a market cap of $3.52 billion, a PE ratio of 174.17 and a beta of 0.79. 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 business’s 50-day simple moving average is $11.05 and its 200 day simple moving average is $10.14. Hagerty, Inc. has a twelve month low of $7.52 and a twelve month high of $12.35.

Hagerty (NYSE:HGTY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $313.23 million for the quarter, compared to analyst estimates of $312.64 million. Hagerty had a net margin of 5.37% and a return on equity of 15.68%. On average, research analysts anticipate that Hagerty, Inc. will post 0.26 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Robert I. Kauffman sold 13,324 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $11.14, for a total transaction of $148,429.36. Following the completion of the transaction, the director now directly owns 5,506,600 shares of the company’s stock, valued at approximately $61,343,524. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Robert I. Kauffman sold 14,853 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $10.86, for a total transaction of $161,303.58. Following the completion of the transaction, the director now owns 5,471,805 shares of the company’s stock, valued at approximately $59,423,802.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert I. Kauffman sold 13,324 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $11.14, for a total transaction of $148,429.36. Following the completion of the sale, the director now owns 5,506,600 shares in the company, valued at approximately $61,343,524. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 183,472 shares of company stock valued at $2,032,709 in the last quarter. Company insiders own 17.90% 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.