Confluence Investment Management LLC Has $3.25 Million Stake in Hagerty, Inc. (NYSE:HGTY)

Confluence Investment Management LLC cut its stake in shares of Hagerty, Inc. (NYSE:HGTY) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 337,100 shares of the company’s stock after selling 14,830 shares during the quarter. Confluence Investment Management LLC owned approximately 0.10% of Hagerty worth $3,253,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Barclays PLC lifted its stake in shares of Hagerty by 23.0% in the third quarter. Barclays PLC now owns 31,675 shares of the company’s stock worth $321,000 after acquiring an additional 5,932 shares during the period. PDT Partners LLC acquired a new position in shares of Hagerty in the 3rd quarter worth approximately $185,000. Caz Investments LP boosted its stake in shares of 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 last quarter. FMR LLC increased its position in shares of Hagerty by 25,769.2% during the third 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. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake 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. Institutional investors own 20.51% of the company’s stock.

Hagerty Price Performance

Hagerty stock opened at $9.88 on Friday. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 89.82 and a beta of 0.80. Hagerty, Inc. has a 52-week low of $7.68 and a 52-week high of $12.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50 day moving average price is $10.94 and its two-hundred day moving average price is $10.92.

Insider Activity at Hagerty

In related news, Director Robert I. Kauffman sold 6,355 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $11.79, for a total value of $74,925.45. Following the completion of the sale, the director now directly owns 4,560,989 shares of the company’s stock, valued at $53,774,060.31. The trade was a 0.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 263,698 shares of company stock worth $2,913,054 in the last quarter. Company insiders own 17.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.