According to the most recent report that the company has submitted to the Securities and Exchange Commission (SEC), Cambridge Investment Research Advisors Inc. made a new investment purchase in Hagerty, Inc. (NYSE: HGT) during the third quarter of this year. The institutional investor put $97,000 into purchasing 10,766 company shares, bringing their total investment to $97,000.
In the most recent few months, a variety of other institutional investors and hedge funds have changed the proportion of HGTY shares they own in their respective portfolios. During the first three months of the year, Vanguard Group Inc. increased the percentage of Hagerty stock held by 39.4 percent. Vanguard Group Inc. purchased 356,937 shares during the most recent quarter, bringing the total number of shares directly owned by the company to 1,263,265. The total value of these shares comes to $13,631,000. A new investment in Hagerty was made by BlackRock Inc. during the first quarter of the fiscal year; at the time, its value was estimated to be somewhere in the neighborhood of $3,594,000. Fenimore Asset Management Inc. increased the percentage of Hagerty shares it held by 42.0 percent during the second quarter. Fenimore Asset Management Inc. now has a total of 785,843 shares of the company’s stock, which are worth a total of $9,029,000 after the company made an additional purchase of 232,273 shares during the most recent quarter. Over the first three months of the year, Wasatch Advisors Inc. increased the percentage of Hagerty stock held by 3.3%. Wasatch Advisors Inc. now holds 7,025,761 shares of the company’s stock following the acquisition of an additional 224,842 shares during the period in question. The value of the company’s stock is currently $75,808,000. The third and final point is that Cabot Wealth Management Inc. purchased an additional stake in Hagerty during the second quarter for close to $2,053,000. This is the point that holds the most significance. To the tune of 20.30% of the company’s stock, institutional investors and hedge funds collectively hold the company’s shares.
When trading started on Tuesday, the price of an individual share of HGTY was $9.32. The debt-to-equity ratio is calculated to be 0.35, the current ratio is calculated to be 1.46, and the quick ratio is also calculated to be 1.46. The company’s stock has a price-to-earnings ratio of -16.35, providing it with a market value of $3.12 billion. The beta value of the stock is 0.62. For the past 50 trading days, the stock price has had a simple moving average of $8.63; for the past 200 trading days, that figure has been $9.94. Hagerty, Inc. reached a one-year high of $16.23 and a one-year low of $7.23 during the period covered by this report.
The most recent quarterly earnings report for Hagerty (NYSE: HGT) was published on November 10, 2018, making the results available to the public. The earnings per share (EPS) reported by the company for the period came in at $0.06, which was $0.13 less than the predictions made for the period, which averaged out to be $0.07 per share. Both the return on equity for Hagerty, which was negative by 28.67%, and the net margin for the company, which was also negative by 1.30%, were negative. The company’s sales for the quarter came in at $216.76 million, which was significantly higher than the general projection of $206.84 million made by market analysts. According to the forecasts provided by professionals in the field of market research, Hagerty, Inc. will incur a loss of -0.18 cents for each share it owns during the current fiscal year.
Raymond James announced in a research note published on October 20 that the company would begin covering Hagerty. They rated the company’s performance in the market as “market perform” overall.
The insurance agency services that Hagerty, Inc. provides are among the most highly regarded worldwide. In addition to acting as a reinsurer, it also offers coverage for watercraft, automobiles, and other vehicles. Additionally, the company provides the following: Hagerty Media, which disseminates content through the HDC Magazine, video content, and a YouTube channel; HDC, which provides subscription-based goods and services such as the HDC Magazine, automotive enthusiast events, proprietary vehicle valuation tools, emergency roadside services, and exclusive vehicle-related discounts; and HVT, which is a valuation tool that enables users to access recent and historical pricing information for collector cars, tin toys, and other collectibles.