Hagerty (NYSE:HGTY) Sees Unusually-High Trading Volume – Still a Buy?

Hagerty, Inc. (NYSE:HGTY) saw unusually-strong trading volume on Tuesday . Approximately 81,178 shares changed hands during trading, an increase of 4% from the previous session’s volume of 78,423 shares.The stock last traded at $9.60 and had previously closed at $9.77.

Analysts Set New Price Targets

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

Hagerty Trading Down 0.5 %

The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. The business has a 50-day simple moving average of $9.83 and a 200-day simple moving average of $10.57. The company has a market cap of $3.19 billion, a PE ratio of 84.91 and a beta of 0.84.

Insider Activity at Hagerty

In related news, Director Robert I. Kauffman sold 11,046 shares of Hagerty stock in a transaction that occurred 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 completion of the transaction, the director now owns 4,454,010 shares in the company, valued at approximately $45,119,121.30. The trade was a 0.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 117,398 shares of company stock worth $1,152,662. 17.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hagerty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC raised its stake in shares of Hagerty by 35.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock valued at $100,000 after acquiring an additional 2,726 shares in the last quarter. Swiss National Bank increased its stake in shares of Hagerty by 6.0% during the fourth quarter. Swiss National Bank now owns 53,000 shares of the company’s stock worth $511,000 after buying an additional 3,000 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Hagerty in the fourth quarter valued at approximately $31,000. Garde Capital Inc. lifted its stake in Hagerty by 4.0% in the fourth quarter. Garde Capital Inc. now owns 103,960 shares of the company’s stock worth $1,003,000 after acquiring an additional 3,960 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Hagerty by 7.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,205 shares of the company’s stock worth $620,000 after acquiring an additional 4,575 shares in the last quarter. Hedge funds and other institutional investors own 20.51% of the company’s stock.

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.