Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells $302,325.60 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 29,352 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $10.30, for a total transaction of $302,325.60. Following the completion of the transaction, the director now owns 2,998,675 shares in the company, valued at approximately $30,886,352.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Hagerty Stock Up 0.3 %

Shares of NYSE HGTY opened at $11.04 on Friday. The company has a market capitalization of $3.72 billion, a P/E ratio of 184.03 and a beta of 0.80. Hagerty, Inc. has a 52-week low of $7.52 and a 52-week high of $11.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.47 and a current ratio of 1.47. The company’s 50 day moving average price is $9.59 and its 200-day moving average price is $8.83.

Hagerty (NYSE:HGTY) last released its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Hagerty had a net margin of 1.82% and a return on equity of 6.35%. The company had revenue of $271.71 million for the quarter, compared to the consensus estimate of $264.32 million. Equities analysts forecast that Hagerty, Inc. will post 0.21 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Hagerty by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock valued at $18,559,000 after acquiring an additional 21,331 shares during the period. Meixler Investment Management Ltd. lifted its position in shares of Hagerty by 21.2% during the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock valued at $223,000 after acquiring an additional 4,250 shares during the period. Confluence Investment Management LLC acquired a new position in shares of Hagerty during the 1st quarter valued at $3,473,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in shares of Hagerty by 34.7% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after acquiring an additional 26,600 shares during the period. Finally, MeadowBrook Investment Advisors LLC acquired a new position in shares of Hagerty during the 4th quarter valued at $132,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

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.