Short Interest in Hagerty, Inc. (NYSE:HGTY) Drops By 7.9%

Hagerty, Inc. (NYSE:HGTY) was the recipient of a significant drop in short interest in November. As of November 30th, there was short interest totalling 300,700 shares, a drop of 7.9% from the November 15th total of 326,600 shares. Based on an average daily trading volume, of 75,700 shares, the short-interest ratio is currently 4.0 days. Currently, 0.4% of the shares of the stock are short sold.

Hagerty Stock Down 0.4 %

Shares of NYSE HGTY opened at $11.09 on Monday. The company’s 50 day moving average price is $11.07 and its 200-day moving average price is $10.90. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. Hagerty has a 52-week low of $7.68 and a 52-week high of $12.35. The company has a market capitalization of $3.78 billion, a P/E ratio of 100.82 and a beta of 0.80.

Insider Buying and Selling at Hagerty

In other news, Director Robert I. Kauffman sold 3,821 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $11.20, for a total transaction of $42,795.20. Following the sale, the director now directly owns 5,164,557 shares in the company, valued at approximately $57,843,038.40. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 268,037 shares of company stock worth $2,970,375 over the last quarter. Corporate insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. bought a new position in Hagerty during the 2nd quarter valued at $39,000. FMR LLC raised its holdings in shares of Hagerty by 25,769.2% in the third quarter. FMR LLC now owns 6,726 shares of the company’s stock valued at $68,000 after purchasing an additional 6,700 shares during the last quarter. Algert Global LLC bought a new position in shares of Hagerty during the second quarter valued at about $108,000. Dimensional Fund Advisors LP purchased a new position in Hagerty during the second quarter worth about $139,000. Finally, PDT Partners LLC purchased a new position in Hagerty during the third quarter worth about $185,000. Institutional investors own 20.51% of the company’s stock.

About Hagerty

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.