Hagerty (NYSE:HGTY) Sees Strong Trading Volume – Should You Buy?

Hagerty, Inc. (NYSE:HGTY) saw unusually-strong trading volume on Thursday . Approximately 40,164 shares were traded during mid-day trading, a decline of 13% from the previous session’s volume of 45,924 shares.The stock last traded at $9.88 and had previously closed at $9.78.

Wall Street Analyst Weigh In

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

Hagerty Stock Performance

The stock has a 50-day moving average of $10.34 and a 200 day moving average of $10.77. The stock has a market cap of $3.31 billion, a PE ratio of 88.27 and a beta of 0.86. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23.

Hagerty (NYSE:HGTY) last posted its quarterly 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). Hagerty had a return on equity of 12.06% and a net margin of 5.27%. The company had revenue of $323.37 million for the quarter, compared to analysts’ expectations of $318.07 million. During the same quarter in the prior year, the firm earned $0.05 EPS. Equities analysts predict that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert I. Kauffman sold 15,223 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $10.85, for a total value of $165,169.55. Following the sale, the director now directly owns 4,964,603 shares in the company, valued at approximately $53,865,942.55. The trade was a 0.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 276,809 shares of company stock valued at $2,986,179 in the last 90 days. Company insiders own 17.90% of the company’s stock.

Institutional Investors Weigh In On Hagerty

A number of institutional investors have recently made changes to their positions in HGTY. R Squared Ltd purchased a new position in shares of Hagerty during the 4th quarter worth approximately $51,000. FMR LLC lifted 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 purchasing an additional 6,700 shares in the last quarter. Algert Global LLC purchased a new position in shares of Hagerty during the second quarter worth $108,000. Blue Trust Inc. grew its stake in shares of Hagerty by 178.6% in the third quarter. Blue Trust Inc. now owns 10,542 shares of the company’s stock valued at $110,000 after buying an additional 6,758 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Hagerty in the 2nd quarter valued at $139,000. 20.51% of the stock is currently owned by institutional investors and hedge funds.

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.