Hagerty (NYSE:HGTY) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Hagerty, Inc. (NYSE:HGTY) saw an uptick in trading volume on Wednesday . 44,454 shares traded hands during mid-day trading, an increase of 9% from the previous session’s volume of 40,689 shares.The stock last traded at $10.12 and had previously closed at $10.06.

Analyst Upgrades and Downgrades

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

Hagerty Stock Down 0.2 %

The business’s 50 day moving average is $9.98 and its 200 day moving average is $10.68. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 91.36 and a beta of 0.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01.

Insider Buying and Selling

In related news, Director Robert I. Kauffman sold 3,541 shares of Hagerty stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $10.09, for a total value of $35,728.69. Following the completion of the sale, the director now directly owns 4,303,181 shares in the company, valued at $43,419,096.29. This trade represents a 0.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 198,064 shares of company stock worth $2,081,423 in the last three months. Corporate insiders own 17.90% of the company’s stock.

Institutional Trading of Hagerty

A number of institutional investors have recently bought and sold shares of HGTY. KLP Kapitalforvaltning AS purchased a new position in Hagerty during the 4th quarter worth approximately $31,000. Ancora Advisors LLC acquired a new stake in Hagerty in the 4th quarter valued at $46,000. R Squared Ltd acquired a new stake in Hagerty during the 4th quarter worth $51,000. FMR LLC boosted its stake in Hagerty by 25,769.2% during the 3rd 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 last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Hagerty during the 4th quarter worth $84,000. 20.51% of the stock is currently owned by institutional investors and hedge funds.

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.