Short Interest in Hagerty, Inc. (NYSE:HGTY) Decreases By 6.2%

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

Analyst Ratings Changes

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

Insider Buying and Selling at Hagerty

In other Hagerty news, Director Robert I. Kauffman sold 10,461 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $11.54, for a total value of $120,719.94. Following the completion of the transaction, the director now directly owns 4,710,068 shares of the company’s stock, valued at approximately $54,354,184.72. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 198,064 shares of company stock worth $2,081,423. 17.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS bought a new position in Hagerty during the fourth quarter worth about $31,000. Ancora Advisors LLC bought a new position in Hagerty during the 4th quarter worth approximately $46,000. R Squared Ltd bought a new stake in Hagerty in the fourth quarter valued at approximately $51,000. FMR LLC raised its holdings in Hagerty by 25,769.2% in the third quarter. FMR LLC now owns 6,726 shares of the company’s stock worth $68,000 after purchasing an additional 6,700 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in shares of Hagerty during the fourth quarter worth $84,000. 20.51% of the stock is currently owned by institutional investors.

Hagerty Trading Up 0.3 %

Shares of NYSE HGTY opened at $10.10 on Wednesday. Hagerty has a fifty-two week low of $8.27 and a fifty-two week high of $12.35. The firm has a market capitalization of $3.44 billion, a P/E ratio of 91.77 and a beta of 0.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50 day simple moving average is $9.98 and its 200 day simple moving average is $10.68.

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.