Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 2,455 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 2,455 shares of the firm’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $9.02, for a total transaction of $22,144.10. Following the completion of the transaction, the director now owns 4,079,910 shares of the company’s stock, valued at approximately $36,800,788.20. The trade was a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hagerty Stock Up 9.9 %

Shares of Hagerty stock opened at $9.76 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year high of $12.35. The stock has a 50-day moving average price of $9.02 and a 200 day moving average price of $9.96. The company has a market cap of $3.33 billion, a P/E ratio of 88.73 and a beta of 0.88.

Hagerty (NYSE:HGTY) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.02 by $0.06. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. During the same quarter in the previous year, the company earned $0.04 earnings per share. As a group, analysts expect that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. decreased their price objective on shares of Hagerty from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th.

Hedge Funds Weigh In On Hagerty

A number of hedge funds have recently modified their holdings of HGTY. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Hagerty during the first quarter valued at $93,000. Garner Asset Management Corp purchased a new stake in shares of Hagerty during the 1st quarter worth about $2,909,000. Greenhaven Road Investment Management L.P. lifted its holdings in shares of Hagerty by 10.1% during the 1st quarter. Greenhaven Road Investment Management L.P. now owns 1,360,506 shares of the company’s stock valued at $12,299,000 after buying an additional 124,336 shares during the last quarter. Garde Capital Inc. grew its stake in shares of Hagerty by 4.0% in the 4th quarter. Garde Capital Inc. now owns 103,960 shares of the company’s stock valued at $1,003,000 after buying an additional 3,960 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Hagerty by 7.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,205 shares of the company’s stock worth $620,000 after buying an additional 4,575 shares during the last quarter. 20.51% of the stock is owned by institutional investors and hedge funds.

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.