Hagerty, Inc. (NYSE:HGTY) Short Interest Up 21.5% in April

Hagerty, Inc. (NYSE:HGTY - Get Free Report) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 346,100 shares, an increase of 21.5% from the March 31st total of 284,800 shares. Based on an average daily trading volume, of 65,200 shares, the days-to-cover ratio is presently 5.3 days. Currently, 0.4% of the company's stock are short sold.

Analyst Upgrades and Downgrades

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

Insider Activity at Hagerty

In other news, Director Robert I. Kauffman sold 4,915 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $9.97, for a total value of $49,002.55. Following the completion of the sale, the director now directly owns 4,320,314 shares of the company's stock, valued at $43,073,530.58. This trade represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Laurie Harris sold 3,934 shares of the firm's stock in a transaction dated 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 approximately $255,235.09. This represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,056 shares of company stock valued at $647,606. 17.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Hagerty

A number of hedge funds have recently added to or reduced their stakes in HGTY. Markel Group Inc. grew its stake in shares of Hagerty by 3.6% in the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company's stock valued at $29,992,000 after buying an additional 108,000 shares during the period. Barclays PLC grew its holdings in Hagerty by 23.0% during the third quarter. Barclays PLC now owns 31,675 shares of the company's stock worth $321,000 after buying an additional 5,932 shares in the last quarter. Lincoln Capital LLC grew its stake in shares of Hagerty by 6.7% in the 4th quarter. Lincoln Capital LLC now owns 494,495 shares of the company's stock worth $4,772,000 after acquiring an additional 31,068 shares in the last quarter. Pembroke Management LTD bought a new position in shares of Hagerty during the fourth quarter valued at about $9,201,000. Finally, Steward Partners Investment Advisory LLC increased its stake in Hagerty by 35.9% in 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 during the last quarter. 20.51% of the stock is currently owned by institutional investors.

Hagerty Trading Up 0.3 %

HGTY stock traded up $0.03 during midday trading on Tuesday, hitting $8.95. The stock had a trading volume of 10,657 shares, compared to its average volume of 84,502. Hagerty has a 1-year low of $8.03 and a 1-year high of $12.35. 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 business has a fifty day moving average price of $9.05 and a two-hundred day moving average price of $9.97. The firm has a market cap of $3.05 billion, a P/E ratio of 81.32 and a beta of 0.88.

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.