Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 3,291 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,291 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $9.04, for a total value of $29,750.64. Following the completion of the sale, the director now owns 3,415,676 shares of the company’s stock, valued at $30,877,711.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Hagerty Stock Up 1.2 %

Shares of NYSE HGTY opened at $9.15 on Wednesday. The company has a market capitalization of $3.07 billion, a P/E ratio of 130.71 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 company has a debt-to-equity ratio of 0.32, a current ratio of 1.48 and a quick ratio of 1.48. The company has a 50 day simple moving average of $8.87 and a 200-day simple moving average of $8.41.

Hagerty (NYSE:HGTY) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $245.17 million. Hagerty had a return on equity of 4.53% and a net margin of 1.84%. On average, equities research analysts predict that Hagerty, Inc. will post 0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Hagerty

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. purchased a new position in Hagerty during the 4th quarter valued at about $57,000. Commonwealth Equity Services LLC grew its stake in 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 purchasing an additional 1,650 shares in the last quarter. MeadowBrook Investment Advisors LLC purchased a new stake in Hagerty during the 4th quarter worth about $132,000. Corton Capital Inc. acquired a new stake in Hagerty in the 3rd quarter valued at about $133,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Hagerty in the 3rd quarter valued at about $147,000. 20.51% of the stock is owned by hedge funds and other institutional investors.

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.