Hagerty (NYSE:HGTY) Shares Gap Up – Should You Buy?

Hagerty, Inc. (NYSE:HGTY)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $9.33, but opened at $9.65. Hagerty shares last traded at $9.45, with a volume of 1,260 shares traded.

Wall Street Analysts Forecast Growth

Separately, Raymond James cut shares of Hagerty from a “market perform” rating to an “underperform” rating in a report on Thursday, December 26th.

Hagerty Stock Down 4.0 %

The business has a fifty day moving average of $9.74 and a 200-day moving average of $10.36. The stock has a market cap of $3.05 billion, a PE ratio of 81.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01.

Insider Transactions at Hagerty

In other news, Director Robert I. Kauffman sold 8,736 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $9.18, for a total value of $80,196.48. Following the completion of the sale, the director now owns 4,121,185 shares of the company’s stock, valued at approximately $37,832,478.30. This represents a 0.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 115,309 shares of company stock valued at $1,115,200. 17.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hagerty

Large investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC boosted its position in 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 acquiring an additional 2,726 shares in the last quarter. Swiss National Bank grew its position in shares of Hagerty by 6.0% in the 4th 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 purchased a new stake in Hagerty during the fourth quarter valued at approximately $31,000. Garde Capital Inc. lifted its position in Hagerty by 4.0% during the fourth quarter. Garde Capital Inc. now owns 103,960 shares of the company’s stock valued at $1,003,000 after acquiring an additional 3,960 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 in the last quarter. 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.