Hagerty, Inc. (NYSE:HGTY) Short Interest Up 19.5% in March

Hagerty, Inc. (NYSE:HGTY) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 311,300 shares, a growth of 19.5% from the February 28th total of 260,400 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average trading volume of 56,700 shares, the days-to-cover ratio is currently 5.5 days.

Hagerty Stock Down 1.0 %

Shares of HGTY stock traded down $0.09 during trading on Wednesday, reaching $8.99. The company’s stock had a trading volume of 22,235 shares, compared to its average volume of 81,602. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 81.73 and a beta of 0.84. The business has a fifty day moving average price of $9.70 and a 200-day moving average price of $10.32. 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 has a one year low of $8.30 and a one year high of $12.35.

Insider Buying and Selling

In other news, Director Robert I. Kauffman sold 9,170 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $9.06, for a total transaction of $83,080.20. Following the completion of the transaction, the director now directly owns 4,102,715 shares of the company’s stock, valued at approximately $37,170,597.90. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 120,601 shares of company stock worth $1,161,168 in the last quarter. 17.90% of the stock is currently owned by company insiders.

Institutional Trading of Hagerty

Several institutional investors and hedge funds have recently added to or reduced their stakes in HGTY. KLP Kapitalforvaltning AS bought a new position in shares of Hagerty during the fourth quarter worth approximately $31,000. Ancora Advisors LLC bought a new stake in shares of Hagerty during the fourth quarter worth $46,000. R Squared Ltd bought a new stake in shares of Hagerty in the fourth quarter worth $51,000. FMR LLC raised its position in shares of Hagerty by 25,769.2% in the 3rd 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. Finally, BNP Paribas Financial Markets bought a new stake in Hagerty in the 4th quarter valued at about $84,000. 20.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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.