Polar Capital LLP has recently announced that it has increased stake in Hagerty Inc. (NYSE:HGTY) by 189.78%. After grabbing 3.0 million shares, the institutional investor is now in possession of 1.96 million shares of the Financial Company. The new investment brought the stake of investor firm to 3.61% having worth around $25.23 million. Moreover, The Vanguard Group, Inc. increased its share by 0.63 million to have a control over 1.96 million shares. And Greenhaven Road Investment Manage raised its holdings to 0.23 million shares by acquiring 0.88 million shares or 1.06% of the stake.
Hagerty Inc. (HGTY) concluded trading on 01/18/23 at a closing price of $9.49, with 0.2 million shares of worth about $1.92 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -17.76% during that period and on Wednesday the price saw a gain of about 3.49%. Currently the company’s common shares owned by public are about 82.82M shares, out of which, 74.11M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 2 analysts are covering the HGTY stock and their offered price forecasts bring an average price target of $15.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $15.00 and could fall to a lowest price of $15.00. The stock’s current price level is 36.73% above of average price target set by the analysts, while a rise to estimated low would result in gain of 36.73% for the stock. However, touching the estimated high of $15.00 would mean a gain of 36.73% for the stock.
Polar Capital Funds Plc – Global, Wasatch Core Growth Fund, and Wasatch Ultra Growth Fund are the top 3 mutual funds which are holding stakes in Hagerty Inc. Polar Capital Funds Plc – Global is currently holding 3.45 million shares of worth totaling $29.01 million. The company recently came buying 0.45 million shares which brought its stake up to 4.15% of the company’s outstanding shares. Wasatch Core Growth Fund sold -0.78 million shares, after which its hold over company’s outstanding shares shrunk to 2.67%, leaving 2.22 million shares with the mutual fund that have a worth of about $18.67 million. Wasatch Ultra Growth Fund, after selling 1.53 million shares, have now control over 1.83% of the stake in the company. It holds -0.82 million shares of worth $12.83 million.
Hagerty Inc. (NYSE: HGTY) started trading at $9.21, above $0.04 from concluding price of the previous day. However, the stock later moved at a day high price of 9.53, or with a gain of 3.49%. Stock saw a price change of 4.75% in past 5 days and over the past one month there was a price change of 12.17%. Year-to-date (YTD), HGTY shares are showing a performance of 12.84% which decreased to -36.73% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $7.23 but also hit the highest price of $16.23 during that period. The average intraday trading volume for Hagerty Inc. shares is 195.90K. The stock is currently trading 10.82% above its 20-day simple moving average (SMA20), while that difference is up 9.77% for SMA50 and it goes to -5.16% lower than SMA200.
Polar Capital LLP acquired 3.0 million shares of Hagerty Inc. having value of about $25.23 million. Data submitted at the U.S SEC by Polar Capital LLP revealed that the firm now holds 1.96 million shares in the company valued at close to $18645458.52, or have control over 189.78% stake in the company. Hagerty Inc. (NYSE: HGTY) currently have 82.82M outstanding shares and institutions hold larger chunk of about 85.10% of that. Holding of mutual funds in the company is about 67.42% while other institutional holders and individual stake holders have control over 8.85% and 14.73% of the stake respectively.
The stock has a current market capitalization of $3.25B. It has posted earnings per share of -$0.02 in the same period. It has a debt-to-equity ratio of 1.37. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for HGTY, volatility over the week remained 3.65% while standing at 3.72% over the month.
Analysts are in expectations that Hagerty Inc. (HGTY) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter EPS is $0 and it is $0 for next year. For the current quarter EPS, analysts have given the company a lowest target $0 which is $0 at the higher side of the target for the same. Stock’s fiscal year EPS is expected to drop by -555.90%.
Analysts at 2 brokerage firms have issued recommendations for the Hagerty Inc. (HGTY)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 2 Wall Street analysts, 1 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.