Cubist Systematic Strategies LLC Decreases Position in Hagerty, Inc. (NYSE:HGTY)

Cubist Systematic Strategies LLC lowered its position in shares of Hagerty, Inc. (NYSE:HGTY - Free Report) by 67.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of HGTY. Steward Partners Investment Advisory LLC boosted 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 worth $100,000 after purchasing an additional 2,726 shares in the last quarter. Swiss National Bank boosted its position in shares of Hagerty by 6.0% during the 4th quarter. Swiss National Bank now owns 53,000 shares of the company's stock worth $511,000 after purchasing an additional 3,000 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Hagerty during the 4th quarter worth about $31,000. Ancora Advisors LLC bought a new position in shares of Hagerty during the 4th quarter worth about $46,000. Finally, R Squared Ltd bought a new position in shares of Hagerty during the 4th quarter worth about $51,000. Institutional investors own 20.51% of the company's stock.

Hagerty Stock Down 0.9%

NYSE HGTY traded down $0.08 during trading hours on Friday, hitting $9.11. The company's stock had a trading volume of 20,261 shares, compared to its average volume of 86,166. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $12.35. The company has a market capitalization of $3.11 billion, a PE ratio of 82.82 and a beta of 0.88. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23. The company's 50-day simple moving average is $9.02 and its two-hundred day simple moving average is $9.85.

Hagerty (NYSE:HGTY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.06. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. The business had revenue of $319.59 million for the quarter, compared to analysts' expectations of $299.92 million. During the same quarter last year, the firm earned $0.04 EPS. Research analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. cut their price objective on shares of Hagerty from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th.

Insider Activity at Hagerty

In other Hagerty news, Director Laurie Harris sold 3,934 shares of the 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 completion of the sale, the director now owns 30,349 shares in the company, valued at approximately $255,235.09. This trade represents a 11.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert I. Kauffman sold 7,985 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $9.37, for a total transaction of $74,819.45. Following the completion of the sale, the director now owns 4,139,691 shares of the company's stock, valued at approximately $38,788,904.67. This trade represents a 0.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,272 shares of company stock valued at $1,364,917. 17.90% of the stock is owned by corporate insiders.

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.