Hagerty, Inc. (NYSE:HGTY) Shares Purchased by Neuberger Berman Group LLC

Neuberger Berman Group LLC increased its stake in shares of Hagerty, Inc. (NYSE:HGTY - Free Report) by 11.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,725,196 shares of the company's stock after buying an additional 483,324 shares during the period. Neuberger Berman Group LLC owned 1.39% of Hagerty worth $45,598,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. KLP Kapitalforvaltning AS bought a new stake in Hagerty during the fourth quarter worth $31,000. R Squared Ltd bought a new stake in Hagerty during the 4th quarter worth approximately $51,000. FMR LLC boosted its holdings in Hagerty by 25,769.2% during the third quarter. FMR LLC now owns 6,726 shares of the company's stock worth $68,000 after purchasing an additional 6,700 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Hagerty by 35.9% during 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 last quarter. Finally, Bank of New York Mellon Corp bought a new position in Hagerty during the fourth quarter valued at $182,000. 20.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HGTY. JPMorgan Chase & Co. lowered their target price on shares of Hagerty from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Raymond James downgraded Hagerty from a "market perform" rating to an "underperform" rating in a report on Thursday, December 26th.

Insider Activity

In other Hagerty news, Director Robert I. Kauffman sold 3,301 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $9.62, for a total transaction of $31,755.62. Following the sale, the director now owns 4,372,659 shares of the company's stock, valued at approximately $42,064,979.58. The trade was a 0.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Laurie Harris sold 3,934 shares of Hagerty stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $8.41, for a total value of $33,084.94. Following the transaction, the director now owns 30,349 shares of the company's stock, valued at $255,235.09. The trade was a 11.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,324 shares of company stock valued at $829,699. 17.90% of the stock is currently owned by company insiders.

Hagerty Price Performance

Shares of Hagerty stock traded up $0.19 during trading on Wednesday, reaching $8.83. 4,851 shares of the stock traded hands, compared to its average volume of 81,930. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 80.27 and a beta of 0.88. Hagerty, Inc. has a 52-week low of $8.03 and a 52-week high of $12.35. The business has a fifty day simple moving average of $9.43 and a two-hundred day simple moving average of $10.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01.

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.