Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells $68,656.14 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 6,202 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $11.07, for a total value of $68,656.14. Following the completion of the sale, the director now directly owns 5,528,496 shares in the company, valued at approximately $61,200,450.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Hagerty Stock Up 1.2 %

HGTY opened at $11.20 on Thursday. The business’s fifty day simple moving average is $9.77 and its 200 day simple moving average is $8.92. Hagerty, Inc. has a 52 week low of $7.52 and a 52 week high of $11.23. The firm has a market cap of $3.77 billion, a P/E ratio of 186.70 and a beta of 0.80. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.22.

Hagerty (NYSE:HGTY) last released its earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. Hagerty had a net margin of 1.82% and a return on equity of 6.35%. The firm had revenue of $271.71 million during the quarter, compared to analysts’ expectations of $264.32 million. As a group, equities research analysts anticipate that Hagerty, Inc. will post 0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Hagerty

Several hedge funds have recently modified their holdings of the stock. Confluence Investment Management LLC purchased a new position in Hagerty during the first quarter worth approximately $3,473,000. Lincoln Capital LLC boosted its holdings in Hagerty by 18.0% in the fourth quarter. Lincoln Capital LLC now owns 328,763 shares of the company’s stock valued at $2,593,000 after acquiring an additional 50,140 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. grew its position in Hagerty by 34.7% during the fourth 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. Hsbc Holdings PLC purchased a new position in Hagerty in the third quarter valued at approximately $206,000. Finally, Vanguard Group Inc. grew its stake in Hagerty by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock worth $18,559,000 after buying an additional 21,331 shares during the period. 20.51% of the stock is owned by institutional investors and hedge funds.

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.