Confluence Investment Management LLC Sells 14,830 Shares of Hagerty, Inc. (NYSE:HGTY)

Confluence Investment Management LLC trimmed its holdings in Hagerty, Inc. (NYSE:HGTY) by 4.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 337,100 shares of the company’s stock after selling 14,830 shares during the quarter. Confluence Investment Management LLC’s holdings in Hagerty were worth $3,253,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HGTY. FMR LLC raised its holdings 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 during the last quarter. Algert Global LLC purchased a new stake in shares of Hagerty in the second quarter worth approximately $108,000. Blue Trust Inc. raised its stake in shares of Hagerty by 178.6% in the third quarter. Blue Trust Inc. now owns 10,542 shares of the company’s stock worth $110,000 after purchasing an additional 6,758 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Hagerty in the second quarter valued at approximately $139,000. Finally, PDT Partners LLC purchased a new position in shares of Hagerty during the third quarter valued at approximately $185,000. 20.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Raymond James downgraded shares of Hagerty from a “market perform” rating to an “underperform” rating in a report on Thursday, December 26th.

Hagerty Trading Up 2.4 %

NYSE:HGTY opened at $9.88 on Friday. Hagerty, Inc. has a 52 week low of $7.68 and a 52 week high of $12.35. The firm has a 50-day moving average price of $10.94 and a two-hundred day moving average price of $10.92. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 89.82 and a beta of 0.80.

Insider Activity

In related news, Director Robert I. Kauffman sold 6,355 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $11.79, for a total value of $74,925.45. Following the transaction, the director now directly owns 4,560,989 shares of the company’s stock, valued at approximately $53,774,060.31. The trade was a 0.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 263,698 shares of company stock valued at $2,913,054 over the last three months. Corporate insiders own 17.90% 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.