Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 2,455 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 2,455 shares of Hagerty stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $9.02, for a total transaction of $22,144.10. Following the completion of the transaction, the director now owns 4,079,910 shares of the company’s stock, valued at $36,800,788.20. This trade represents a 0.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Hagerty Stock Down 0.4 %

HGTY opened at $9.71 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. Hagerty, Inc. has a 12 month low of $8.03 and a 12 month high of $12.35. The stock has a market capitalization of $3.31 billion, a P/E ratio of 88.27 and a beta of 0.88. The business has a 50 day simple moving average of $9.01 and a 200-day simple moving average of $9.95.

Hagerty (NYSE:HGTY) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.06. The firm had revenue of $319.59 million during the quarter, compared to analysts’ expectations 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 firm posted $0.04 earnings per share. On average, equities analysts anticipate that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Markel Group Inc. lifted its holdings in shares of Hagerty by 3.6% during the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock worth $29,992,000 after acquiring an additional 108,000 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Hagerty during the 4th quarter valued at $879,000. Lincoln Capital LLC increased its holdings in shares of Hagerty by 6.7% in the fourth quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock valued at $4,772,000 after buying an additional 31,068 shares in the last quarter. Pembroke Management LTD purchased a new position in shares of Hagerty during the fourth quarter valued at $9,201,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Hagerty by 35.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock valued at $100,000 after acquiring an additional 2,726 shares in the last quarter. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered their price objective on Hagerty from $11.00 to $10.00 and set a “neutral” rating for the company in a research report 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.