Short Interest in Hagerty, Inc. (NYSE:HGTY) Drops By 15.5%

Hagerty, Inc. (NYSE:HGTY) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 260,400 shares, a decrease of 15.5% from the February 13th total of 308,100 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average trading volume of 52,100 shares, the short-interest ratio is presently 5.0 days.

Wall Street Analysts Forecast Growth

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

Hagerty Price Performance

NYSE HGTY opened at $9.32 on Tuesday. 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’s 50 day moving average price is $9.80 and its 200-day moving average price is $10.50. Hagerty has a 52-week low of $8.30 and a 52-week high of $12.35. The company has a market cap of $3.18 billion, a PE ratio of 84.68 and a beta of 0.84.

Insiders Place Their Bets

In other Hagerty news, Director Robert I. Kauffman sold 8,918 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $9.32, for a total value of $83,115.76. Following the transaction, the director now directly owns 4,389,521 shares in the company, valued at $40,910,335.72. This represents a 0.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 117,398 shares of company stock worth $1,152,662 in the last three months. Corporate insiders own 17.90% of the company’s stock.

Hedge Funds Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Neuberger Berman Group LLC boosted its stake in shares of Hagerty by 11.4% during the fourth quarter. Neuberger Berman Group LLC now owns 4,725,196 shares of the company’s stock valued at $45,598,000 after purchasing an additional 483,324 shares in the last quarter. Markel Group Inc. lifted its position in Hagerty by 3.6% during the fourth quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock valued at $29,992,000 after acquiring an additional 108,000 shares during the last quarter. Pembroke Management LTD purchased a new stake in Hagerty during the fourth quarter valued at approximately $9,201,000. Lincoln Capital LLC lifted its position in Hagerty by 6.7% during the fourth quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock valued at $4,772,000 after acquiring an additional 31,068 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Hagerty by 21.6% during the fourth quarter. Renaissance Technologies LLC now owns 193,896 shares of the company’s stock valued at $1,871,000 after acquiring an additional 34,500 shares during the last quarter. 20.51% of the stock is currently owned by institutional investors.

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.