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

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

Hagerty Trading Down 1.0 %

NYSE:HGTY traded down $0.09 during trading hours on Wednesday, reaching $8.99. 22,235 shares of the company were exchanged, compared to its average volume of 81,602. The stock has a 50 day simple moving average of $9.70 and a 200 day simple moving average of $10.32. Hagerty has a 52-week low of $8.30 and a 52-week high of $12.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 81.73 and a beta of 0.84.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Hagerty

In related news, Director Robert I. Kauffman sold 9,170 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $9.06, for a total value of $83,080.20. Following the sale, the director now directly owns 4,102,715 shares in the company, valued at approximately $37,170,597.90. The trade was a 0.22 % 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 120,601 shares of company stock valued at $1,161,168 in the last three months. 17.90% of the stock is currently owned by company insiders.

Institutional Trading of Hagerty

Hedge funds have recently made changes to their positions in the company. FMR LLC increased its stake in shares of Hagerty by 25,769.2% in the third quarter. FMR LLC now owns 6,726 shares of the company’s stock worth $68,000 after buying an additional 6,700 shares during the last quarter. PDT Partners LLC bought a new stake in Hagerty during the third quarter worth approximately $185,000. Barclays PLC grew its holdings in Hagerty by 23.0% during the third quarter. Barclays PLC now owns 31,675 shares of the company’s stock worth $321,000 after acquiring an additional 5,932 shares during the period. Lincoln Capital LLC lifted its stake 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 purchasing an additional 31,068 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Hagerty by 188.6% during the 4th quarter. Blue Trust Inc. now owns 30,423 shares of the company’s stock valued at $309,000 after acquiring an additional 19,881 shares during 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.