Short Interest in Hagerty, Inc. (NYSE:HGTY) Drops By 15.5%

Hagerty, Inc. (NYSE:HGTY - Get Free Report) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 260,400 shares, a decline of 15.5% from the February 13th total of 308,100 shares. Based on an average daily volume of 52,100 shares, the days-to-cover ratio is presently 5.0 days. Currently, 0.3% of the shares of the company are sold short.

Insider Transactions at Hagerty

In related news, Director Robert I. Kauffman sold 2,687 shares of Hagerty stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $9.98, for a total transaction of $26,816.26. Following the sale, the director now directly owns 4,449,856 shares of the company's stock, valued at $44,409,562.88. This trade represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 112,321 shares of company stock worth $1,098,897. 17.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC grew its holdings in shares of Hagerty by 35.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock worth $100,000 after purchasing an additional 2,726 shares during the last quarter. Swiss National Bank grew its stake in Hagerty by 6.0% during the fourth quarter. Swiss National Bank now owns 53,000 shares of the company's stock worth $511,000 after buying an additional 3,000 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Hagerty during the fourth quarter worth approximately $31,000. Garde Capital Inc. increased its holdings in shares of Hagerty by 4.0% during the fourth quarter. Garde Capital Inc. now owns 103,960 shares of the company's stock worth $1,003,000 after buying an additional 3,960 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 acquiring an additional 4,575 shares during the last quarter. 20.51% of the stock is currently owned by institutional investors and hedge funds.

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Hagerty Price Performance

Shares of HGTY stock traded down $0.08 during trading hours on Friday, hitting $9.11. The company had a trading volume of 108,722 shares, compared to its average volume of 53,310. Hagerty has a 12 month low of $8.30 and a 12 month high of $12.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. The firm's fifty day moving average is $9.78 and its 200 day moving average is $10.47. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 82.77 and a beta of 0.84.

Wall Street Analyst Weigh In

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

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.