Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells $62,984.60 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 6,427 shares of the firm’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $9.80, for a total value of $62,984.60. Following the completion of the sale, the director now directly owns 3,833,116 shares in the company, valued at approximately $37,564,536.80. The trade was a 0.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hagerty Stock Performance

NYSE HGTY opened at $9.50 on Friday. The firm has a market capitalization of $3.25 billion, a P/E ratio of 86.36 and a beta of 0.91. Hagerty, Inc. has a 1-year low of $8.03 and a 1-year high of $12.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. The business’s 50-day simple moving average is $9.21 and its 200-day simple moving average is $9.71.

Hagerty (NYSE:HGTY) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.06. The business had revenue of $319.59 million for the quarter, compared to analyst estimates of $299.92 million. Hagerty had a return on equity of 12.06% and a net margin of 5.27%. During the same period in the previous year, the company posted $0.04 EPS. Equities analysts predict that Hagerty, Inc. will post 0.22 EPS for the current year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Hagerty

Several hedge funds and other institutional investors have recently modified their holdings of the company. Neuberger Berman Group LLC lifted its stake in shares of Hagerty by 15.7% in the 1st quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company’s stock valued at $49,438,000 after purchasing an additional 743,597 shares in the last quarter. Markel Group Inc. lifted its stake in shares of Hagerty by 3.6% in the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock valued at $29,992,000 after purchasing an additional 108,000 shares in the last quarter. Greenhaven Road Investment Management L.P. lifted its stake in shares of Hagerty by 10.1% in 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 purchasing an additional 124,336 shares in the last quarter. Pembroke Management LTD acquired a new position in shares of Hagerty in the 4th quarter valued at about $9,201,000. Finally, Lincoln Capital LLC lifted its position in Hagerty by 12.3% during the 1st quarter. Lincoln Capital LLC now owns 555,286 shares of the company’s stock worth $4,753,000 after acquiring an additional 60,791 shares in 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.