Connor Clark & Lunn Investment Management Ltd. Increases Position in Hagerty, Inc. (NYSE:HGTY)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Hagerty, Inc. (NYSE:HGTY) by 376.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,143 shares of the company’s stock after purchasing an additional 76,740 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Hagerty were worth $988,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. acquired a new stake in Hagerty in the 2nd quarter worth about $39,000. Algert Global LLC acquired a new stake in Hagerty in the 2nd quarter worth about $108,000. Dimensional Fund Advisors LP acquired a new stake in Hagerty in the 2nd quarter worth about $139,000. Lakewood Asset Management LLC acquired a new stake in Hagerty in the 3rd quarter worth about $186,000. Finally, Goldstone Financial Group LLC acquired a new stake in Hagerty in the 3rd quarter worth about $236,000. 20.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Hagerty

In related news, Director Robert I. Kauffman sold 5,874 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $10.22, for a total value of $60,032.28. Following the transaction, the director now directly owns 5,134,664 shares in the company, valued at approximately $52,476,266.08. This represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 271,459 shares of company stock worth $3,017,272 in the last ninety days. Insiders own 17.90% of the company’s stock.

Analysts Set New Price Targets

Separately, Truist Financial lifted their price objective on Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Thursday, August 8th.

Hagerty Trading Up 0.7 %

Shares of Hagerty stock opened at $11.75 on Thursday. The stock has a market cap of $4.01 billion, a P/E ratio of 106.82 and a beta of 0.78. The stock’s 50 day simple moving average is $10.85 and its 200-day simple moving average is $10.67. Hagerty, Inc. has a 1-year low of $7.68 and a 1-year high of $12.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01.

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.