Hagerty (NYSE:HGTY) Cut to Underperform at Raymond James

Hagerty (NYSE:HGTY) was downgraded by research analysts at Raymond James from a “market perform” rating to an “underperform” rating in a report released on Thursday,Briefing.com Automated Import reports.

Hagerty Stock Performance

NYSE:HGTY opened at $10.11 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. Hagerty has a fifty-two week low of $7.68 and a fifty-two week high of $12.35. The company has a 50 day simple moving average of $11.04 and a two-hundred day simple moving average of $10.93. The company has a market capitalization of $3.45 billion, a PE ratio of 91.91 and a beta of 0.80.

Insider Activity at Hagerty

In other news, Director Robert I. Kauffman sold 6,355 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $11.79, for a total transaction of $74,925.45. Following the completion of the sale, the director now owns 4,560,989 shares of the company’s stock, valued at $53,774,060.31. This trade represents a 0.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 270,268 shares of company stock worth $2,985,576 over the last quarter. Company insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its stake in Hagerty by 23.0% in the third quarter. Barclays PLC now owns 31,675 shares of the company’s stock valued at $321,000 after acquiring an additional 5,932 shares during the period. PDT Partners LLC acquired a new stake in Hagerty in the 3rd quarter valued at $185,000. Caz Investments LP grew its position in Hagerty by 66.7% in 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. FMR LLC increased its stake in Hagerty by 25,769.2% during 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Hagerty by 376.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,143 shares of the company’s stock worth $988,000 after buying an additional 76,740 shares during the last quarter. 20.51% of the stock is owned by institutional investors.

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.