Cubist Systematic Strategies LLC Sells 27,483 Shares of Hagerty, Inc. (NYSE:HGTY)

Cubist Systematic Strategies LLC cut its holdings in Hagerty, Inc. (NYSE:HGTY) by 67.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,149 shares of the company’s stock after selling 27,483 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Hagerty were worth $127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Markel Group Inc. lifted its position in Hagerty by 3.6% in the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock valued at $29,992,000 after acquiring an additional 108,000 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Hagerty during the 4th quarter valued at $879,000. Lincoln Capital LLC lifted its holdings in shares of Hagerty by 6.7% during the 4th quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock valued at $4,772,000 after buying an additional 31,068 shares during the period. Pembroke Management LTD bought a new position in shares of Hagerty during the 4th quarter valued at $9,201,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings 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 buying an additional 2,726 shares during the period. 20.51% of the stock is owned by institutional investors.

Insider Transactions at Hagerty

In other Hagerty news, Director Laurie Harris sold 3,934 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $8.41, for a total value of $33,084.94. Following the completion of the sale, the director now owns 30,349 shares in the company, valued at approximately $255,235.09. This represents a 11.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert I. Kauffman sold 33,765 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $9.67, for a total value of $326,507.55. Following the completion of the sale, the director now owns 4,046,145 shares of the company’s stock, valued at $39,126,222.15. The trade was a 0.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 106,276 shares of company stock worth $1,004,821 in the last three months. Corporate insiders own 17.90% of the company’s stock.

Hagerty Trading Up 0.8%

NYSE:HGTY opened at $9.72 on Monday. 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 firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 88.39 and a beta of 0.88. Hagerty, Inc. has a one year low of $8.03 and a one year high of $12.35. The business has a fifty day moving average price of $9.01 and a 200-day moving average price of $9.91.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.02 by $0.06. The firm had revenue of $319.59 million during the quarter, compared to analyst estimates of $299.92 million. Hagerty had a return on equity of 12.06% and a net margin of 5.27%. During the same period in the prior year, the business posted $0.04 EPS. Sell-side analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered their price target on Hagerty from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th.

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.