Hagerty (NYSE:HGTY) Sees Strong Trading Volume – What’s Next?

Hagerty, Inc. (NYSE:HGTY) shares saw strong trading volume on Tuesday . 128,235 shares were traded during trading, an increase of 63% from the previous session’s volume of 78,538 shares.The stock last traded at $9.27 and had previously closed at $9.33.

Wall Street Analyst Weigh In

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

Hagerty Trading Down 1.0 %

The firm has a 50-day moving average of $9.80 and a 200 day moving average of $10.50. 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 capitalization of $3.13 billion, a price-to-earnings ratio of 83.54 and a beta of 0.84.

Insider Transactions at Hagerty

In related news, Director Robert I. Kauffman sold 11,046 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $10.13, for a total value of $111,895.98. Following the completion of the sale, the director now owns 4,454,010 shares in the company, valued at approximately $45,119,121.30. This represents a 0.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 117,398 shares of company stock valued at $1,152,662 in the last three months. 17.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Hagerty

Several large investors have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS bought a new stake in Hagerty in the fourth quarter valued at about $31,000. Ancora Advisors LLC acquired a new stake in Hagerty in the 4th quarter valued at $46,000. R Squared Ltd acquired a new position in Hagerty during the fourth quarter worth $51,000. FMR LLC increased its position in shares of Hagerty by 25,769.2% during the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock worth $68,000 after purchasing an additional 6,700 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Hagerty in the fourth quarter valued at about $84,000. Institutional investors own 20.51% of the company’s stock.

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.