Renaissance Technologies LLC Has $1.87 Million Stock Position in Hagerty, Inc. (NYSE:HGTY)

Renaissance Technologies LLC raised its stake in shares of Hagerty, Inc. (NYSE:HGTY - Free Report) by 21.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 193,896 shares of the company's stock after buying an additional 34,500 shares during the period. Renaissance Technologies LLC owned about 0.06% of Hagerty worth $1,871,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HGTY. KLP Kapitalforvaltning AS acquired a new stake in Hagerty in the fourth quarter valued at approximately $31,000. R Squared Ltd purchased a new stake in shares of Hagerty in the fourth quarter valued at approximately $51,000. Steward Partners Investment Advisory LLC lifted 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 valued at $100,000 after buying an additional 2,726 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Hagerty in the fourth quarter valued at about $182,000. Finally, Legal & General Group Plc increased its position in shares of Hagerty by 48.6% during the fourth quarter. Legal & General Group Plc now owns 25,148 shares of the company's stock worth $243,000 after purchasing an additional 8,226 shares in the last quarter. 20.51% of the stock is owned by hedge funds and other institutional investors.

Hagerty Stock Performance

Shares of Hagerty stock traded up $0.02 during trading hours on Thursday, hitting $8.83. 3,046 shares of the company were exchanged, compared to its average volume of 84,213. 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 stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 80.23 and a beta of 0.88. The business has a 50-day moving average of $9.12 and a 200-day moving average of $10.01. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year high of $12.35.

Insider Activity at Hagerty

In other news, Director Robert I. Kauffman sold 3,713 shares of Hagerty stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $9.57, for a total transaction of $35,533.41. Following the sale, the director now directly owns 4,331,394 shares of the company's stock, valued at approximately $41,451,440.58. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Laurie Harris sold 3,934 shares of Hagerty stock in a transaction that occurred 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 sale, the director now owns 30,349 shares in the company, valued at $255,235.09. This represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,222 shares of company stock valued at $726,423. 17.90% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reduced 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.

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.