Hagerty, Inc. (NYSE:HGTY) Sees Significant Drop in Short Interest

Hagerty, Inc. (NYSE:HGTY) was the recipient of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 260,400 shares, a decline of 15.5% from the February 13th total of 308,100 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily volume of 52,100 shares, the days-to-cover ratio is presently 5.0 days.

Hagerty Stock Down 0.6 %

Shares of HGTY stock traded down $0.06 on Thursday, hitting $9.18. 11,816 shares of the stock were exchanged, compared to its average volume of 79,016. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $3.13 billion, a P/E ratio of 83.41 and a beta of 0.84. The business has a 50-day moving average of $9.79 and a 200 day moving average of $10.48. Hagerty has a fifty-two week low of $8.30 and a fifty-two week high of $12.35.

Insider Buying and Selling at Hagerty

In other news, Director Robert I. Kauffman sold 2,687 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $9.98, for a total transaction of $26,816.26. Following the completion of the sale, the director now owns 4,449,856 shares in the company, valued at $44,409,562.88. The trade was a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders sold 112,321 shares of company stock worth $1,098,897. 17.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HGTY. KLP Kapitalforvaltning AS acquired a new position in Hagerty during the fourth quarter valued at approximately $31,000. Ancora Advisors LLC bought a new stake in Hagerty in the fourth quarter valued at approximately $46,000. R Squared Ltd bought a new stake in Hagerty in the fourth quarter valued at approximately $51,000. FMR LLC raised its stake in Hagerty by 25,769.2% in the third quarter. FMR LLC now owns 6,726 shares of the company’s stock valued at $68,000 after buying an additional 6,700 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in Hagerty in the fourth quarter valued at approximately $84,000. 20.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Raymond James cut Hagerty from a “market perform” rating to an “underperform” rating in a research note 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.