Hagerty (NYSE:HGTY) Cut to Underperform at Raymond James

Raymond James downgraded shares of Hagerty (NYSE:HGTY) from a market perform rating to an underperform rating in a research note published on Thursday morning, Marketbeat.com reports.

Hagerty Stock Down 1.7 %

Shares of NYSE:HGTY opened at $9.83 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $3.35 billion, a P/E ratio of 89.36 and a beta of 0.80. Hagerty has a 52-week low of $7.68 and a 52-week high of $12.35. The stock’s fifty day simple moving average is $11.01 and its 200-day simple moving average is $10.93.

Insider Transactions at Hagerty

In related news, Director Robert I. Kauffman sold 3,348 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $10.60, for a total value of $35,488.80. Following the transaction, the director now directly owns 5,112,652 shares of the company’s stock, valued at approximately $54,194,111.20. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 269,042 shares of company stock worth $2,971,462 in the last three months. Company insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Meixler Investment Management Ltd. boosted its position in shares of Hagerty by 9.7% in the third quarter. Meixler Investment Management Ltd. now owns 27,455 shares of the company’s stock worth $279,000 after buying an additional 2,430 shares during the period. 17 Capital Partners LLC lifted its position in Hagerty by 10.0% during the 3rd quarter. 17 Capital Partners LLC now owns 55,000 shares of the company’s stock worth $559,000 after acquiring an additional 5,000 shares in the last quarter. Barclays PLC lifted its position in Hagerty by 23.0% during the 3rd quarter. Barclays PLC now owns 31,675 shares of the company’s stock worth $321,000 after acquiring an additional 5,932 shares in the last quarter. FMR LLC boosted its holdings in Hagerty by 25,769.2% in the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock worth $68,000 after acquiring an additional 6,700 shares during the period. Finally, Blue Trust Inc. grew its position in Hagerty by 178.6% in the third quarter. Blue Trust Inc. now owns 10,542 shares of the company’s stock valued at $110,000 after acquiring an additional 6,758 shares in the last quarter. 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.