Hagerty (NYSE:HGTY) Sees Unusually-High Trading Volume - Time to Buy?

Hagerty, Inc. (NYSE:HGTY - Get Free Report) shares saw an uptick in trading volume on Wednesday . 44,454 shares changed hands during trading, an increase of 9% from the previous session's volume of 40,689 shares.The stock last traded at $10.12 and had previously closed at $10.06.

Wall Street Analysts Forecast Growth

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

Hagerty Trading Down 0.2 %

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 business has a 50-day simple moving average of $9.94 and a two-hundred day simple moving average of $10.67. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 91.27 and a beta of 0.85.

Insider Transactions at Hagerty

In other news, Director Robert I. Kauffman sold 8,918 shares of the firm's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $9.32, for a total transaction of $83,115.76. Following the completion of the sale, the director now owns 4,389,521 shares in the company, valued at approximately $40,910,335.72. This trade represents a 0.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders sold 143,652 shares of company stock worth $1,462,699. 17.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Meixler Investment Management Ltd. grew its position in shares of Hagerty by 9.7% in the third quarter. Meixler Investment Management Ltd. now owns 27,455 shares of the company's stock valued at $279,000 after purchasing an additional 2,430 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in 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. Swiss National Bank grew its holdings in Hagerty by 6.0% in the 4th quarter. Swiss National Bank now owns 53,000 shares of the company's stock valued at $511,000 after buying an additional 3,000 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Hagerty during the 4th quarter worth $31,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Hagerty by 7.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,205 shares of the company's stock worth $620,000 after buying an additional 4,575 shares in the last quarter. 20.51% of the stock is owned by institutional investors.

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.