Hagerty, Inc. (NYSE:HGTY) Short Interest Down 15.5% in February

Hagerty, Inc. (NYSE:HGTY) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 260,400 shares, a drop of 15.5% from the February 13th total of 308,100 shares. Based on an average daily trading volume, of 52,100 shares, the short-interest ratio is currently 5.0 days. Currently, 0.3% of the shares of the company are sold short.

Insiders Place Their Bets

In other Hagerty news, Director Robert I. Kauffman sold 3,242 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $10.03, for a total value of $32,517.26. Following the completion of the transaction, the director now owns 4,285,877 shares of the company’s stock, valued at approximately $42,987,346.31. This trade represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 117,398 shares of company stock valued at $1,152,662. Insiders own 17.90% of the company’s stock.

Institutional Trading of Hagerty

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Markel Group Inc. grew its position in Hagerty by 3.6% during the fourth quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock valued at $29,992,000 after buying an additional 108,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Hagerty by 376.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,143 shares of the company’s stock valued at $988,000 after buying an additional 76,740 shares during the period. Barclays PLC grew its position in Hagerty by 23.0% during the third quarter. Barclays PLC now owns 31,675 shares of the company’s stock valued at $321,000 after buying an additional 5,932 shares during the period. Lincoln Capital LLC grew its position in Hagerty by 6.7% during the fourth quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock valued at $4,772,000 after buying an additional 31,068 shares during the period. Finally, Pembroke Management LTD acquired a new stake in Hagerty during the fourth quarter valued at $9,201,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

Hagerty Stock Down 0.2 %

NYSE:HGTY opened at $9.32 on Tuesday. The firm has a market capitalization of $3.18 billion, a P/E ratio of 84.68 and a beta of 0.84. Hagerty has a 1-year low of $8.30 and a 1-year high of $12.35. The company’s fifty day moving average price is $9.80 and its 200-day moving average price is $10.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01.

Wall Street Analyst Weigh In

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

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.