Cubist Systematic Strategies LLC Has $127,000 Stake in Hagerty, Inc. (NYSE:HGTY)

Cubist Systematic Strategies LLC trimmed its stake in shares of Hagerty, Inc. (NYSE:HGTY - Free Report) by 67.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,149 shares of the company's stock after selling 27,483 shares during the period. 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 and hedge funds have also recently added to or reduced their stakes in HGTY. KLP Kapitalforvaltning AS bought a new stake in shares of Hagerty in the fourth quarter valued at about $31,000. Ancora Advisors LLC acquired a new stake in Hagerty in the 4th quarter valued at approximately $46,000. R Squared Ltd bought a new stake in Hagerty in the 4th quarter valued at approximately $51,000. BNP Paribas Financial Markets bought a new stake in Hagerty in the 4th quarter valued at approximately $84,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Hagerty by 35.9% in the fourth 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. 20.51% of the stock is owned by institutional investors and hedge funds.

Hagerty Stock Down 0.6%

HGTY traded down $0.05 during trading on Thursday, reaching $9.20. 27,849 shares of the stock were exchanged, compared to its average volume of 85,900. 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 stock's 50 day moving average price is $9.02 and its two-hundred day moving average price is $9.89. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $12.35. The stock has a market cap of $3.14 billion, a P/E ratio of 83.60 and a beta of 0.88.

Hagerty (NYSE:HGTY - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $299.92 million. During the same period last year, the business posted $0.04 EPS. Equities analysts expect that Hagerty, Inc. will post 0.22 EPS for the current year.

Insider Activity

In related news, Director Robert I. Kauffman sold 33,765 shares of Hagerty stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $9.67, for a total transaction 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 approximately $39,126,222.15. The trade was a 0.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Laurie Harris sold 3,934 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $8.41, for a total transaction of $33,084.94. Following the sale, the director now owns 30,349 shares of the company's stock, valued at $255,235.09. This trade represents a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,272 shares of company stock valued at $1,364,917 over the last three months. Insiders own 17.90% of the company's stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered their price target 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.

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.