Hagerty (NYSE:HGTY) Cut to “Underperform” at Raymond James

Hagerty (NYSE:HGTY) was downgraded by stock analysts at Raymond James from a “market perform” rating to an “underperform” rating in a research report issued on Thursday, Marketbeat.com reports.

Hagerty Stock Down 1.7 %

Shares of NYSE HGTY opened at $9.83 on Thursday. The stock has a 50-day moving average price of $11.01 and a two-hundred day moving average price of $10.93. Hagerty has a 12 month low of $7.68 and a 12 month 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 company has a market cap of $3.35 billion, a price-to-earnings ratio of 89.36 and a beta of 0.80.

Insider Buying and Selling at Hagerty

In other news, Director Robert I. Kauffman sold 5,874 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $10.22, for a total transaction of $60,032.28. Following the sale, the director now directly owns 5,134,664 shares in the company, valued at approximately $52,476,266.08. The trade was a 0.11 % 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 269,042 shares of company stock worth $2,971,462 over the last quarter. Corporate insiders own 17.90% of the company’s stock.

Institutional Investors Weigh In On Hagerty

Several hedge funds have recently added to or reduced their stakes in HGTY. Barclays PLC raised its holdings in Hagerty by 23.0% during the 3rd quarter. Barclays PLC now owns 31,675 shares of the company’s stock worth $321,000 after purchasing an additional 5,932 shares during the last quarter. PDT Partners LLC bought a new stake in Hagerty during the third quarter valued at $185,000. Caz Investments LP grew its holdings in Hagerty by 66.7% during the 3rd quarter. Caz Investments LP now owns 25,000 shares of the company’s stock worth $258,000 after acquiring an additional 10,000 shares during the period. FMR LLC raised its position in shares of Hagerty by 25,769.2% in the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock worth $68,000 after acquiring an additional 6,700 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Hagerty by 376.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,143 shares of the company’s stock valued at $988,000 after purchasing an additional 76,740 shares during the period. 20.51% of the stock is currently owned by institutional investors and hedge funds.

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.