JPMorgan Chase & Co. Lowers Hagerty (NYSE:HGTY) Price Target to $10.00

Hagerty (NYSE:HGTY - Get Free Report) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $11.00 to $10.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 16.27% from the stock's previous close.

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

Hagerty Stock Down 1.7 %

Shares of Hagerty stock traded down $0.15 during midday trading on Tuesday, reaching $8.60. 29,769 shares of the company's stock traded hands, compared to its average volume of 82,449. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 78.19 and a beta of 0.88. Hagerty has a 52 week low of $8.03 and a 52 week high of $12.35. The company's 50 day simple moving average is $9.48 and its 200 day simple moving average is $10.17. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01.

Insider Activity

In other 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 value of $33,084.94. Following the transaction, the director now directly owns 30,349 shares in the company, valued at approximately $255,235.09. The trade was a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert I. Kauffman sold 9,170 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $9.06, for a total value of $83,080.20. Following the sale, the director now owns 4,102,715 shares of the company's stock, valued at approximately $37,170,597.90. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 99,125 shares of company stock valued at $950,247 over the last 90 days. 17.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hagerty

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Garde Capital Inc. boosted its holdings in Hagerty by 4.0% in the 4th quarter. Garde Capital Inc. now owns 103,960 shares of the company's stock valued at $1,003,000 after purchasing an additional 3,960 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Hagerty by 7.7% in 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 valued at $620,000 after buying an additional 4,575 shares during the period. BNP Paribas Financial Markets acquired a new stake in Hagerty during the fourth quarter worth about $84,000. Ancora Advisors LLC bought a new position in Hagerty during the fourth quarter valued at about $46,000. Finally, Jane Street Group LLC acquired a new position in Hagerty in the 4th quarter valued at approximately $230,000. Institutional investors own 20.51% of the company's stock.

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.