Pembroke Management LTD Takes Position in Hagerty, Inc. (NYSE:HGTY)

Pembroke Management LTD bought a new stake in Hagerty, Inc. (NYSE:HGTY) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 953,427 shares of the company’s stock, valued at approximately $9,201,000.

Several other institutional investors also recently bought and sold shares of HGTY. Lincoln Capital LLC increased its stake in Hagerty by 6.7% in 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 during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Hagerty by 376.1% in 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 period. 17 Capital Partners LLC raised its holdings in Hagerty by 10.0% during the 3rd quarter. 17 Capital Partners LLC now owns 55,000 shares of the company’s stock valued at $559,000 after buying an additional 5,000 shares during the last quarter. Barclays PLC boosted its position in Hagerty by 23.0% during the 3rd 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. grew its holdings in Hagerty by 188.6% in the 4th quarter. Blue Trust Inc. now owns 30,423 shares of the company’s stock worth $309,000 after acquiring an additional 19,881 shares during the last quarter. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hagerty

In related news, Director Robert I. Kauffman sold 10,461 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $11.54, for a total value of $120,719.94. Following the sale, the director now directly owns 4,710,068 shares of the company’s stock, valued at $54,354,184.72. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 198,064 shares of company stock valued at $2,081,423. 17.90% of the stock is currently owned by company insiders.

Hagerty Price Performance

HGTY opened at $10.04 on Tuesday. 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 has a market capitalization of $3.42 billion, a PE ratio of 91.27 and a beta of 0.85. The stock’s 50 day moving average price is $10.00 and its 200-day moving average price is $10.69. Hagerty, Inc. has a 52-week low of $8.27 and a 52-week high of $12.35.

Wall Street Analyst Weigh In

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

Hagerty 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.