Hagerty (NYSE:HGTY) Sees Large Volume Increase – What’s Next?

Shares of Hagerty, Inc. (NYSE:HGTY) saw unusually-strong trading volume on Tuesday . Approximately 128,235 shares traded hands during mid-day trading, an increase of 63% from the previous session’s volume of 78,538 shares.The stock last traded at $9.27 and had previously closed at $9.33.

Wall Street Analyst Weigh In

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

Hagerty Stock Up 0.4 %

The stock’s 50-day moving average price is $9.79 and its two-hundred day moving average price is $10.48. The stock has a market capitalization of $3.15 billion, a P/E ratio of 83.91 and a beta of 0.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23.

Insider Activity

In other news, Director Robert I. Kauffman sold 3,861 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $10.21, for a total transaction of $39,420.81. Following the completion of the transaction, the director now directly owns 4,312,192 shares of the company’s stock, valued at $44,027,480.32. This represents a 0.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 112,321 shares of company stock valued at $1,098,897 in the last three months. Company insiders own 17.90% of the company’s stock.

Institutional Trading of Hagerty

A number of institutional investors have recently modified their holdings of HGTY. KLP Kapitalforvaltning AS purchased a new stake in shares of Hagerty during the 4th quarter valued at approximately $31,000. Ancora Advisors LLC purchased a new stake in shares of Hagerty during the 4th quarter valued at approximately $46,000. R Squared Ltd purchased a new stake in shares of Hagerty during the 4th quarter valued at approximately $51,000. FMR LLC lifted its stake in shares of Hagerty by 25,769.2% during the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock valued at $68,000 after buying an additional 6,700 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Hagerty during the 4th quarter valued at approximately $84,000. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

About Hagerty

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.