Greenhaven Road Investment Management L.P. increased its position in Hagerty, Inc. (NYSE:HGTY - Free Report) by 10.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,360,506 shares of the company's stock after buying an additional 124,336 shares during the period. Hagerty comprises approximately 5.0% of Greenhaven Road Investment Management L.P.'s holdings, making the stock its 8th largest position. Greenhaven Road Investment Management L.P. owned 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 made changes to their positions in HGTY. Swiss National Bank boosted its stake in Hagerty by 6.0% in the fourth quarter. Swiss National Bank now owns 53,000 shares of the company's stock valued at $511,000 after acquiring an additional 3,000 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Hagerty in the fourth quarter valued at $31,000. Garde Capital Inc. increased its stake in Hagerty by 4.0% during the 4th quarter. Garde Capital Inc. now owns 103,960 shares of the company's stock worth $1,003,000 after buying an additional 3,960 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Hagerty by 7.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,205 shares of the company's stock worth $620,000 after buying an additional 4,575 shares in the last quarter. Finally, Ancora Advisors LLC purchased a new stake in Hagerty during the 4th quarter valued at about $46,000. Institutional investors own 20.51% of the company's stock.
Wall Street Analyst Weigh In
Separately, JPMorgan Chase & Co. cut their target price 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.
Read Our Latest Stock Analysis on HGTY
Hagerty Stock Performance
Shares of HGTY stock traded up $0.01 during mid-day trading on Wednesday, hitting $10.15. The stock had a trading volume of 58,760 shares, compared to its average volume of 72,132. Hagerty, Inc. has a fifty-two week low of $8.03 and a fifty-two week high of $12.35. The firm has a market cap of $3.47 billion, a PE ratio of 50.70 and a beta of 0.90. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.01. The company's 50-day simple moving average is $9.81 and its 200-day simple moving average is $9.55.
Hagerty (NYSE:HGTY - Get Free Report) last posted its 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. The firm had revenue of $319.59 million during the quarter, compared to the consensus estimate of $299.92 million. Hagerty had a net margin of 4.73% and a return on equity of 13.55%. During the same period last year, the firm posted $0.04 EPS. Sell-side analysts anticipate that Hagerty, Inc. will post 0.22 earnings per share for the current year.
Insider Transactions at Hagerty
In other Hagerty news, Director Robert I. Kauffman sold 16,897 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $10.12, for a total transaction of $170,997.64. Following the sale, the director directly owned 3,388,252 shares of the company's stock, valued at approximately $34,289,110.24. This represents 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 the SEC website. Insiders have sold 642,584 shares of company stock valued at $6,398,425 over the last 90 days. Corporate insiders own 17.90% of the company's stock.
About Hagerty
(
Free Report)
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.
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