Short Interest in Hagerty, Inc. (NYSE:HGTY) Decreases By 11.0%

Hagerty, Inc. (NYSE:HGTYGet Free Report) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 326,600 shares, a drop of 11.0% from the October 31st total of 367,100 shares. Based on an average daily volume of 78,900 shares, the short-interest ratio is currently 4.1 days. Approximately 0.4% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, Truist Financial increased their target price on shares of Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th.

Get Our Latest Research Report on Hagerty

Insider Activity at Hagerty

In other news, Director Robert I. Kauffman sold 67,590 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $11.17, for a total transaction of $754,980.30. Following the transaction, the director now owns 4,832,126 shares in the company, valued at $53,974,847.42. This represents a 1.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 256,952 shares of company stock valued at $2,845,510. Insiders own 17.90% of the company’s stock.

Institutional Investors Weigh In On Hagerty

A number of hedge funds have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew 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 worth $988,000 after acquiring an additional 76,740 shares during the last quarter. Algert Global LLC acquired a new stake in Hagerty in the 2nd quarter worth $108,000. Dimensional Fund Advisors LP bought a new position in shares of Hagerty during the 2nd quarter worth about $139,000. Blue Trust Inc. bought a new position in shares of Hagerty during the 2nd quarter worth about $39,000. Finally, 17 Capital Partners LLC lifted its stake in shares of Hagerty by 10.0% in the third quarter. 17 Capital Partners LLC now owns 55,000 shares of the company’s stock valued at $559,000 after buying an additional 5,000 shares during the period. 20.51% of the stock is currently owned by institutional investors.

Hagerty Stock Performance

NYSE:HGTY traded up $0.03 during midday trading on Friday, reaching $11.78. The stock had a trading volume of 65,505 shares, compared to its average volume of 122,001. The stock has a market capitalization of $4.02 billion, a P/E ratio of 107.09 and a beta of 0.78. Hagerty has a 1-year low of $7.68 and a 1-year 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’s fifty day simple moving average is $10.90 and its 200-day simple moving average is $10.72.

About Hagerty

(Get Free Report)

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.

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