Hagerty (NYSE:HGTY) Sees Large Volume Increase – What’s Next?

Hagerty, Inc. (NYSE:HGTY) saw unusually-strong trading volume on Tuesday . Approximately 81,178 shares were traded during mid-day trading, an increase of 4% from the previous session’s volume of 78,423 shares.The stock last traded at $9.60 and had previously closed at $9.77.

Analysts Set New Price Targets

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

Hagerty Stock Down 3.1 %

The stock has a market cap of $3.12 billion, a P/E ratio of 83.27 and a beta of 0.84. The stock’s 50-day moving average is $9.84 and its 200-day moving average is $10.60. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23.

Insider Buying and Selling at Hagerty

In other Hagerty news, Director Robert I. Kauffman sold 11,046 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $10.13, for a total value of $111,895.98. Following the completion of the sale, the director now owns 4,454,010 shares of the company’s stock, valued at $45,119,121.30. The trade was a 0.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 122,873 shares of company stock valued at $1,213,873. 17.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new stake in shares of Hagerty in the 4th quarter valued at $31,000. Ancora Advisors LLC bought a new position in Hagerty in the fourth quarter valued at about $46,000. R Squared Ltd acquired a new stake in shares of Hagerty during the 4th quarter worth approximately $51,000. FMR LLC lifted its stake in shares of Hagerty by 25,769.2% in the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock valued at $68,000 after purchasing an additional 6,700 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in Hagerty during the fourth quarter worth about $84,000. 20.51% of the stock is currently owned by institutional investors and hedge funds.

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.