Connor Clark & Lunn Investment Management Ltd. Acquires 39,958 Shares of Hagerty, Inc. (NYSE:HGTY)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Hagerty, Inc. (NYSE:HGTY - Free Report) by 41.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,101 shares of the company's stock after purchasing an additional 39,958 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Hagerty were worth $1,323,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Markel Group Inc. lifted its holdings in Hagerty by 3.6% in the fourth quarter. Markel Group Inc. now owns 3,108,000 shares of the company's stock valued at $29,992,000 after buying an additional 108,000 shares during the period. Pembroke Management LTD acquired a new position in Hagerty in the fourth quarter valued at approximately $9,201,000. Lincoln Capital LLC lifted its holdings in Hagerty by 6.7% in the fourth 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 period. Charles Schwab Investment Management Inc. lifted its holdings in Hagerty by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 140,037 shares of the company's stock valued at $1,351,000 after buying an additional 8,258 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Hagerty in the fourth quarter valued at approximately $879,000. 20.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Robert I. Kauffman sold 3,242 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $10.03, for a total transaction of $32,517.26. Following the sale, the director now directly owns 4,285,877 shares in the company, valued at $42,987,346.31. This trade represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 112,321 shares of company stock worth $1,098,897. Company insiders own 17.90% of the company's stock.

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Hagerty Trading Down 0.8 %

HGTY traded down $0.08 during mid-day trading on Friday, hitting $9.11. The stock had a trading volume of 108,722 shares, compared to its average volume of 79,237. The stock's fifty day simple moving average is $9.77 and its 200-day simple moving average is $10.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 82.77 and a beta of 0.84. Hagerty, Inc. has a 1-year low of $8.30 and a 1-year high of $12.35.

Analyst Upgrades and Downgrades

Separately, Raymond James lowered shares of Hagerty from a "market perform" rating to an "underperform" rating in a 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.