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

Hagerty, Inc. (NYSE:HGTY) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 326,600 shares, a decline of 11.0% from the October 31st total of 367,100 shares. Based on an average trading volume of 78,900 shares, the days-to-cover ratio is presently 4.1 days. Currently, 0.4% of the company’s stock are sold short.

Insider Buying and Selling

In other news, Director Robert I. Kauffman sold 10,461 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $11.54, for a total value of $120,719.94. Following the sale, the director now owns 4,710,068 shares in the company, valued at approximately $54,354,184.72. This represents a 0.22 % 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 have sold 256,952 shares of company stock worth $2,845,510. 17.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hagerty

Several large investors have recently made changes to their positions in the company. Blue Trust Inc. acquired a new stake in shares of Hagerty in the 2nd quarter worth approximately $39,000. FMR LLC raised its holdings in Hagerty by 25,769.2% during the 3rd 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 period. Algert Global LLC purchased a new position in shares of Hagerty in the second quarter worth approximately $108,000. Dimensional Fund Advisors LP acquired a new stake in shares of Hagerty during the second quarter valued at approximately $139,000. Finally, PDT Partners LLC purchased a new position in shares of Hagerty during the third quarter valued at $185,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

Analysts Set New Price Targets

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 report on Thursday, August 8th.

Hagerty Stock Performance

HGTY stock traded up $0.03 during mid-day trading on Friday, reaching $11.78. The company 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. The stock’s 50-day simple moving average is $10.90 and its two-hundred day simple moving average is $10.72. Hagerty has a one year low of $7.68 and a one year high of $12.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23.

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.