Trexquant Investment LP Raises Stock Position in Hagerty, Inc. (NYSE:HGTY)

Trexquant Investment LP boosted its stake in Hagerty, Inc. (NYSE:HGTY - Free Report) by 100.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,257 shares of the company's stock after purchasing an additional 48,742 shares during the quarter. Trexquant Investment LP's holdings in Hagerty were worth $939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Markel Group Inc. lifted its holdings in shares of Hagerty by 3.6% during the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company's stock valued at $29,992,000 after purchasing an additional 108,000 shares in the last quarter. Lincoln Capital LLC grew its holdings 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 acquiring an additional 31,068 shares in the last quarter. Barclays PLC increased its position in shares of Hagerty by 23.0% during the 3rd quarter. Barclays PLC now owns 31,675 shares of the company's stock worth $321,000 after purchasing an additional 5,932 shares during the last quarter. Pembroke Management LTD bought a new stake in Hagerty during the fourth quarter worth $9,201,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Hagerty by 35.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock valued at $100,000 after purchasing an additional 2,726 shares during the period. Institutional investors own 20.51% of the company's stock.

Insider Activity at Hagerty

In other Hagerty news, Director Laurie Harris sold 3,934 shares of Hagerty stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $8.41, for a total transaction of $33,084.94. Following the completion of the transaction, the director now owns 30,349 shares in the company, valued at approximately $255,235.09. The trade was a 11.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert I. Kauffman sold 3,861 shares of Hagerty stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $10.21, for a total value of $39,420.81. Following the transaction, the director now directly owns 4,312,192 shares in the company, valued at approximately $44,027,480.32. The trade was a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,324 shares of company stock worth $829,699 over the last quarter. Company insiders own 17.90% of the company's stock.

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Hagerty Trading Up 0.4 %

HGTY traded up $0.04 during midday trading on Wednesday, hitting $8.68. 969 shares of the company were exchanged, compared to its average volume of 58,878. Hagerty, Inc. has a 1-year low of $8.03 and a 1-year high of $12.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. The firm's 50 day moving average price is $9.43 and its 200-day moving average price is $10.15. The firm has a market capitalization of $2.96 billion, a P/E ratio of 78.86 and a beta of 0.88.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Raymond James downgraded Hagerty from a "market perform" rating to an "underperform" rating in a research report on Thursday, December 26th. JPMorgan Chase & Co. lowered their price objective on shares of Hagerty from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th.

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.