Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 8,361 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 8,361 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $9.69, for a total transaction of $81,018.09. Following the completion of the sale, the director now owns 3,971,433 shares of the company’s stock, valued at approximately $38,483,185.77. This trade represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hagerty Stock Performance

HGTY stock traded up $0.11 during trading on Monday, reaching $9.79. The company had a trading volume of 66,843 shares, compared to its average volume of 86,086. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $12.35. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 89.00 and a beta of 0.88. The firm has a 50-day simple moving average of $9.01 and a 200-day simple moving average of $9.91.

Hagerty (NYSE:HGTY) last released its earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.06. Hagerty had a return on equity of 12.06% and a net margin of 5.27%. The firm had revenue of $319.59 million for the quarter, compared to the consensus estimate of $299.92 million. During the same period in the prior year, the firm earned $0.04 EPS. As a group, sell-side analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new stake in shares of Hagerty in the fourth quarter worth $31,000. Ancora Advisors LLC purchased a new stake in Hagerty in the fourth quarter valued at $46,000. R Squared Ltd purchased a new position in shares of Hagerty during the 4th quarter valued at about $51,000. BNP Paribas Financial Markets acquired a new position in shares of Hagerty in the 4th quarter valued at about $84,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Hagerty in the first quarter worth about $93,000. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. dropped their target price on Hagerty from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th.

Hagerty Company 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.