Hagerty (NYSE:HGTY) Sees Strong Trading Volume – Time to Buy?

Hagerty, Inc. (NYSE:HGTY) shares saw unusually-strong trading volume on Tuesday . Approximately 128,235 shares were traded during trading, an increase of 63% from the previous session’s volume of 78,538 shares.The stock last traded at $9.27 and had previously closed at $9.33.

Analysts Set New Price Targets

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

Hagerty Trading Down 1.0 %

The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 83.54 and a beta of 0.84. The firm has a fifty day moving average price of $9.80 and a 200-day moving average price of $10.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01.

Insiders Place Their Bets

In related news, Director Robert I. Kauffman sold 2,687 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $9.98, for a total transaction of $26,816.26. Following the completion of the sale, the director now directly owns 4,449,856 shares in the company, valued at $44,409,562.88. This represents a 0.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 117,398 shares of company stock worth $1,152,662 over the last ninety days. Corporate insiders own 17.90% of the company’s stock.

Institutional Trading of Hagerty

A number of hedge funds and other institutional investors have recently modified their holdings of HGTY. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Hagerty by 376.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,143 shares of the company’s stock valued at $988,000 after buying an additional 76,740 shares during the period. FMR LLC boosted its holdings in Hagerty by 25,769.2% in the third quarter. FMR LLC now owns 6,726 shares of the company’s stock valued at $68,000 after acquiring an additional 6,700 shares during the last quarter. Caz Investments LP increased its position in Hagerty by 66.7% during the 3rd quarter. Caz Investments LP now owns 25,000 shares of the company’s stock valued at $258,000 after purchasing an additional 10,000 shares during the period. PDT Partners LLC bought a new position in Hagerty during the 3rd quarter worth approximately $185,000. Finally, Barclays PLC grew its stake in shares of Hagerty by 23.0% in the 3rd quarter. Barclays PLC now owns 31,675 shares of the company’s stock valued at $321,000 after buying an additional 5,932 shares during the period. 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.