Hagerty (NYSE:HGTY) Sees Strong Trading Volume – What’s Next?

Shares of Hagerty, Inc. (NYSE:HGTY) saw unusually-strong trading volume on Thursday . Approximately 55,555 shares were traded during mid-day trading, an increase of 29% from the previous session’s volume of 43,146 shares.The stock last traded at $9.76 and had previously closed at $9.66.

Analyst Upgrades and Downgrades

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

Hagerty Stock Performance

The company has a market cap of $3.34 billion, a P/E ratio of 89.02 and a beta of 0.86. The business has a 50 day moving average price of $10.49 and a two-hundred day moving average price of $10.82. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01.

Hagerty (NYSE:HGTY) last issued its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.03). The firm had revenue of $323.37 million during the quarter, compared to analysts’ expectations of $318.07 million. Hagerty had a return on equity of 12.06% and a net margin of 5.27%. During the same period in the previous year, the firm earned $0.05 earnings per share. On average, sell-side analysts anticipate that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Insider Transactions at Hagerty

In other Hagerty news, Director Robert I. Kauffman sold 5,044 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $9.70, for a total value of $48,926.80. Following the completion of the transaction, the director now directly owns 4,361,998 shares in the company, valued at approximately $42,311,380.60. This represents a 0.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 280,907 shares of company stock worth $3,042,875. Company insiders own 17.90% of the company’s stock.

Hedge Funds Weigh In On Hagerty

A number of institutional investors have recently bought and sold shares of the stock. R Squared Ltd bought a new stake in shares of Hagerty during the 4th quarter valued at $51,000. FMR LLC boosted its stake in Hagerty by 25,769.2% during the third quarter. FMR LLC now owns 6,726 shares of the company’s stock worth $68,000 after acquiring an additional 6,700 shares in the last quarter. Algert Global LLC purchased a new stake in Hagerty in the second quarter worth about $108,000. Blue Trust Inc. increased its stake in shares of Hagerty by 178.6% during the third quarter. Blue Trust Inc. now owns 10,542 shares of the company’s stock valued at $110,000 after purchasing an additional 6,758 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Hagerty during the second quarter valued at approximately $139,000. 20.51% of the stock is owned by 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.