Hagerty (NYSE:HGTY) Shares Gap Up – Time to Buy?

Shares of Hagerty, Inc. (NYSE:HGTY) gapped up prior to trading on Friday . The stock had previously closed at $9.33, but opened at $9.65. Hagerty shares last traded at $9.45, with a volume of 1,260 shares changing hands.

Analyst Ratings Changes

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

Hagerty Stock Down 0.8 %

The company has a market capitalization of $3.16 billion, a P/E ratio of 84.18 and a beta of 0.84. 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 firm’s fifty day moving average is $9.75 and its 200-day moving average is $10.38.

Insiders Place Their Bets

In other news, Director Robert I. Kauffman sold 8,736 shares of Hagerty stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $9.18, for a total transaction of $80,196.48. Following the sale, the director now directly owns 4,121,185 shares of the company’s stock, valued at approximately $37,832,478.30. This trade represents a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 115,309 shares of company stock valued at $1,115,200. 17.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HGTY. Connor Clark & Lunn Investment Management Ltd. increased its position in Hagerty by 376.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,143 shares of the company’s stock valued at $988,000 after acquiring an additional 76,740 shares during the period. FMR LLC grew its stake in shares of Hagerty by 25,769.2% in the third quarter. FMR LLC now owns 6,726 shares of the company’s stock worth $68,000 after purchasing an additional 6,700 shares during the last quarter. PDT Partners LLC bought a new position in Hagerty during the 3rd quarter worth $185,000. Barclays PLC lifted its holdings in Hagerty by 23.0% during the 3rd quarter. Barclays PLC now owns 31,675 shares of the company’s stock worth $321,000 after buying an additional 5,932 shares during the period. Finally, Lincoln Capital LLC grew its position in shares of Hagerty by 6.7% in the 4th quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock valued at $4,772,000 after buying an additional 31,068 shares during the last quarter. 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.