Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells $117,334.20 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 11,710 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $10.02, for a total transaction of $117,334.20. Following the completion of the transaction, the director now owns 3,769,614 shares in the company, valued at $37,771,532.28. This trade represents a 0.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Hagerty Price Performance

NYSE HGTY opened at $10.09 on Friday. Hagerty, Inc. has a 12 month low of $8.03 and a 12 month high of $12.35. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 50.43 and a beta of 0.91. The company’s 50 day moving average is $9.45 and its two-hundred day moving average is $9.59. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25.

Hagerty (NYSE:HGTY) last released its quarterly earnings data 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. The firm had revenue of $319.59 million for the quarter, compared to analysts’ expectations of $299.92 million. Hagerty had a net margin of 4.73% and a return on equity of 13.55%. During the same quarter last year, the business posted $0.04 earnings per share. As a group, research analysts anticipate that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Hagerty

Several institutional investors and hedge funds have recently modified their holdings of the stock. KLP Kapitalforvaltning AS purchased a new position in shares of Hagerty in the fourth quarter valued at $31,000. Ancora Advisors LLC bought a new stake in shares of Hagerty during the fourth quarter worth $46,000. BNP Paribas Financial Markets bought a new stake in shares of Hagerty during the fourth quarter worth $84,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Hagerty during the first quarter worth $93,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in Hagerty by 35.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock worth $100,000 after acquiring an additional 2,726 shares during the period. Institutional investors own 20.51% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. decreased their target price on shares of 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.