Greenhaven Road Investment Management L.P. Raises Holdings in Hagerty, Inc. (NYSE:HGTY)

Greenhaven Road Investment Management L.P. grew its position in Hagerty, Inc. (NYSE:HGTY - Free Report) by 10.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,360,506 shares of the company's stock after purchasing an additional 124,336 shares during the period. Hagerty makes up approximately 5.0% of Greenhaven Road Investment Management L.P.'s holdings, making the stock its 8th largest holding. Greenhaven Road Investment Management L.P. owned approximately 0.40% of Hagerty worth $12,299,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of HGTY. Neuberger Berman Group LLC lifted its position in Hagerty by 11.4% during the 4th quarter. Neuberger Berman Group LLC now owns 4,725,196 shares of the company's stock worth $45,598,000 after acquiring an additional 483,324 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Hagerty during the 4th quarter worth approximately $997,000. Raymond James Financial Inc. acquired a new position in Hagerty during the 4th quarter worth approximately $879,000. Epoch Investment Partners Inc. acquired a new position in Hagerty during the 4th quarter worth approximately $547,000. Finally, Trexquant Investment LP lifted its position in Hagerty by 100.5% during the 4th quarter. Trexquant Investment LP now owns 97,257 shares of the company's stock worth $939,000 after acquiring an additional 48,742 shares in the last quarter. 20.51% of the stock is owned by institutional investors and hedge funds.

Hagerty Stock Performance

HGTY traded up $0.10 during midday trading on Tuesday, reaching $10.19. The company's stock had a trading volume of 56,320 shares, compared to its average volume of 71,944. The stock has a market cap of $3.48 billion, a P/E ratio of 50.88 and a beta of 0.90. The company has a fifty day simple moving average of $9.81 and a 200 day simple moving average of $9.55. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $12.35.

Hagerty (NYSE:HGTY - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.06. The firm had revenue of $319.59 million for the quarter, compared to analyst estimates of $299.92 million. Hagerty had a return on equity of 13.55% and a net margin of 4.73%. During the same quarter last year, the firm posted $0.04 EPS. Research analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut their target price on 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 related news, Director Robert I. Kauffman sold 16,897 shares of Hagerty stock in a transaction on Monday, July 21st. The stock was sold at an average price of $10.12, for a total transaction of $170,997.64. Following the completion of the sale, the director directly owned 3,388,252 shares of the company's stock, valued at $34,289,110.24. The trade was a 0.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 642,584 shares of company stock valued at $6,398,425. 17.90% of the stock is currently owned by company 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.