Hagerty (NYSE:HGTY) Sees Unusually-High Trading Volume – Here’s What Happened

Hagerty, Inc. (NYSE:HGTY) shares saw strong trading volume on Thursday . 40,164 shares traded hands during mid-day trading, a decline of 13% from the previous session’s volume of 45,924 shares.The stock last traded at $9.88 and had previously closed at $9.78.

Wall Street Analysts Forecast Growth

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

Hagerty Trading Down 0.2 %

The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23. The company has a market cap of $3.32 billion, a PE ratio of 88.42 and a beta of 0.86. The company has a fifty day simple moving average of $10.41 and a two-hundred day simple moving average of $10.79.

Hagerty (NYSE:HGTY) last issued its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The firm had revenue of $323.37 million for the quarter, compared to analyst estimates of $318.07 million. Hagerty had a return on equity of 12.06% and a net margin of 5.27%. During the same quarter in the previous year, the firm posted $0.05 EPS. Analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current year.

Insider Transactions at Hagerty

In related news, Director Robert I. Kauffman sold 3,693 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $9.86, for a total transaction of $36,412.98. Following the transaction, the director now owns 4,348,872 shares of the company’s stock, valued at $42,879,877.92. This represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 277,623 shares of company stock worth $3,005,015. Corporate insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HGTY. Lincoln Capital LLC increased its stake in shares of Hagerty by 6.7% during the 4th quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock worth $4,772,000 after purchasing an additional 31,068 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Hagerty by 376.1% during the 3rd 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 last quarter. 17 Capital Partners LLC raised its stake in Hagerty by 10.0% in the 3rd quarter. 17 Capital Partners LLC now owns 55,000 shares of the company’s stock valued at $559,000 after purchasing an additional 5,000 shares during the last quarter. Barclays PLC lifted its stake in shares of Hagerty by 23.0% during the third 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. Finally, Blue Trust Inc. raised its holdings in Hagerty by 188.6% in 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.

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.