MeadowBrook Investment Advisors LLC Purchases Shares of 16,920 Hagerty, Inc. (NYSE:HGTY)

MeadowBrook Investment Advisors LLC acquired a new position in shares of Hagerty, Inc. (NYSE:HGTY) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 16,920 shares of the company’s stock, valued at approximately $132,000.

Other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its stake in shares of Hagerty by 14.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,944 shares of the company’s stock worth $106,000 after buying an additional 1,650 shares during the period. Swiss National Bank increased its stake in shares of Hagerty by 3.3% during the third quarter. Swiss National Bank now owns 55,700 shares of the company’s stock worth $455,000 after purchasing an additional 1,800 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Hagerty by 15.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 36,570 shares of the company’s stock valued at $299,000 after buying an additional 5,000 shares in the last quarter. Blue Trust Inc. acquired a new stake in Hagerty in the 4th quarter worth about $57,000. Finally, Fenimore Asset Management Inc. increased its stake in Hagerty by 0.8% during the 4th quarter. Fenimore Asset Management Inc. now owns 945,286 shares of the company’s stock worth $7,373,000 after buying an additional 7,600 shares in the last quarter. 20.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hagerty

In related news, Director Robert I. Kauffman sold 2,848 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $9.08, for a total value of $25,859.84. Following the transaction, the director now directly owns 3,447,059 shares in the company, valued at $31,299,295.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Robert I. Kauffman sold 2,998 shares of Hagerty stock in a transaction on Monday, April 8th. The stock was sold at an average price of $9.04, for a total value of $27,101.92. Following the completion of the sale, the director now directly owns 3,429,332 shares of the company’s stock, valued at $31,001,161.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert I. Kauffman sold 2,848 shares of Hagerty stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $9.08, for a total value of $25,859.84. Following the completion of the transaction, the director now directly owns 3,447,059 shares of the company’s stock, valued at $31,299,295.72. The disclosure for this sale can be found here. Insiders sold a total of 17,943 shares of company stock worth $162,121 in the last three months. 17.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. assumed coverage on Hagerty in a research report on Thursday, January 11th. They issued a “neutral” rating and a $9.00 target price on the stock.

Hagerty Price Performance

Shares of NYSE HGTY traded up $0.17 during mid-day trading on Monday, reaching $9.09. The company’s stock had a trading volume of 44,698 shares, compared to its average volume of 52,294. The stock has a market capitalization of $3.05 billion, a P/E ratio of 128.29 and a beta of 0.77. Hagerty, Inc. has a 1-year low of $7.52 and a 1-year high of $10.01. The stock has a 50-day moving average of $8.85 and a two-hundred day moving average of $8.40. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 1.48.

Hagerty (NYSE:HGTY) last released its earnings results on Tuesday, March 12th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $245.04 million for the quarter, compared to analyst estimates of $245.17 million. Hagerty had a net margin of 1.84% and a return on equity of 4.53%. On average, equities research analysts anticipate that Hagerty, Inc. will post 0.19 EPS for the current fiscal year.

Hagerty 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.