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

Hagerty, Inc. (NYSE:HGTY) saw unusually-high 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 Analysts Forecast Growth

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

Hagerty Stock Up 0.4 %

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $3.15 billion, a PE ratio of 83.91 and a beta of 0.84. The company’s 50 day simple moving average is $9.79 and its 200-day simple moving average is $10.48.

Insider Transactions at Hagerty

In other news, Director Robert I. Kauffman sold 11,046 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $10.13, for a total value of $111,895.98. Following the transaction, the director now owns 4,454,010 shares of the company’s stock, valued at $45,119,121.30. This represents a 0.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 112,321 shares of company stock valued at $1,098,897 in the last quarter. Insiders own 17.90% of the company’s stock.

Hedge Funds Weigh In On Hagerty

A number of institutional investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC increased its holdings in shares of Hagerty by 11.4% in the 4th quarter. Neuberger Berman Group LLC now owns 4,725,196 shares of the company’s stock worth $45,598,000 after buying an additional 483,324 shares during the last quarter. Markel Group Inc. grew its holdings in shares of Hagerty by 3.6% during the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock valued at $29,992,000 after purchasing an additional 108,000 shares during the last quarter. Pembroke Management LTD bought a new position in shares of Hagerty during the 4th quarter valued at $9,201,000. Lincoln Capital LLC grew its holdings in shares of Hagerty by 6.7% during the 4th quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock valued at $4,772,000 after purchasing an additional 31,068 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Hagerty by 21.6% during the 4th quarter. Renaissance Technologies LLC now owns 193,896 shares of the company’s stock valued at $1,871,000 after purchasing an additional 34,500 shares during the last quarter. Institutional investors own 20.51% of the company’s stock.

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.