Hagerty, Inc. (NYSE:HGTY) Short Interest Up 8.0% in December

Hagerty, Inc. (NYSE:HGTY) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 324,900 shares, a growth of 8.0% from the November 30th total of 300,700 shares. Based on an average daily trading volume, of 78,100 shares, the short-interest ratio is presently 4.2 days. Currently, 0.4% of the company’s stock are sold short.

Insider Activity

In other news, Director Robert I. Kauffman sold 4,431 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $10.46, for a total value of $46,348.26. Following the completion of the sale, the director now owns 5,108,221 shares of the company’s stock, valued at $53,431,991.66. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 267,046 shares of company stock worth $2,948,542. Corporate insiders own 17.90% of the company’s stock.

Hedge Funds Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Hagerty by 25,769.2% in the third 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. Algert Global LLC acquired a new position in Hagerty in the 2nd quarter worth approximately $108,000. Blue Trust Inc. raised its position in Hagerty by 178.6% during the 3rd quarter. Blue Trust Inc. now owns 10,542 shares of the company’s stock worth $110,000 after buying an additional 6,758 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in Hagerty during the 2nd quarter valued at approximately $139,000. Finally, PDT Partners LLC purchased a new stake in shares of Hagerty in the 3rd quarter valued at $185,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Hagerty Trading Up 0.8 %

NYSE HGTY opened at $9.65 on Thursday. Hagerty has a 12-month low of $7.68 and a 12-month high of $12.35. The company has a fifty day simple moving average of $10.96 and a two-hundred day simple moving average of $10.92. 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 stock has a market cap of $3.29 billion, a P/E ratio of 87.73 and a beta of 0.80.

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.