Short Interest in Hagerty, Inc. (NYSE:HGTY) Declines By 6.2%

Hagerty, Inc. (NYSE:HGTY - Get Free Report) saw a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 300,600 shares, a decrease of 6.2% from the January 15th total of 320,600 shares. Based on an average daily volume of 77,700 shares, the short-interest ratio is presently 3.9 days. Currently, 0.4% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

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

Hagerty Price Performance

Shares of HGTY traded down $0.02 on Friday, hitting $10.04. The company's stock had a trading volume of 33,746 shares, compared to its average volume of 46,634. The company has a market capitalization of $3.42 billion, a PE ratio of 91.27 and a beta of 0.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. Hagerty has a fifty-two week low of $8.27 and a fifty-two week high of $12.35. The company has a 50 day moving average price of $9.92 and a 200 day moving average price of $10.67.

Insider Activity

In other news, Director Robert I. Kauffman sold 11,046 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $10.13, for a total value of $111,895.98. Following the sale, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 143,652 shares of company stock worth $1,462,699. Company insiders own 17.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HGTY. KLP Kapitalforvaltning AS acquired a new position in shares of Hagerty in the 4th quarter worth approximately $31,000. Ancora Advisors LLC acquired a new position in shares of Hagerty in the 4th quarter worth approximately $46,000. R Squared Ltd acquired a new position in shares of Hagerty in the 4th quarter worth approximately $51,000. FMR LLC boosted its holdings in shares of Hagerty by 25,769.2% in the 3rd quarter. FMR LLC now owns 6,726 shares of the company's stock worth $68,000 after acquiring an additional 6,700 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Hagerty during the 4th quarter worth $84,000. 20.51% of the stock is owned by institutional investors and hedge funds.

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.