Hagerty (NYSE:HGTY) Sees Unusually-High Trading Volume - Here's What Happened

Hagerty, Inc. (NYSE:HGTY - Get Free Report) 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 Price Performance

The company has a 50 day simple moving average of $9.77 and a 200-day simple moving average of $10.44. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 82.77 and a beta of 0.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23.

Insider Buying and Selling

In other news, Director Robert I. Kauffman sold 3,242 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $10.03, for a total transaction of $32,517.26. Following the completion of the sale, the director now owns 4,285,877 shares in the company, valued at $42,987,346.31. The trade was 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 90 days, insiders sold 112,321 shares of company stock worth $1,098,897. Company insiders own 17.90% of the company's stock.

Remove Ads

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Markel Group Inc. increased its position in shares of Hagerty by 3.6% in the fourth quarter. Markel Group Inc. now owns 3,108,000 shares of the company's stock worth $29,992,000 after purchasing an additional 108,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Hagerty by 376.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,143 shares of the company's stock worth $988,000 after purchasing an additional 76,740 shares during the period. Barclays PLC increased its position in shares of Hagerty by 23.0% in the third 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 period. Lincoln Capital LLC increased its position in shares of Hagerty by 6.7% in the fourth quarter. Lincoln Capital LLC now owns 494,495 shares of the company's stock worth $4,772,000 after purchasing an additional 31,068 shares during the period. Finally, Pembroke Management LTD bought a new position in shares of Hagerty in the fourth quarter worth $9,201,000. 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.