Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells $326,507.55 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 33,765 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $9.67, for a total transaction of $326,507.55. Following the sale, the director now directly owns 4,046,145 shares in the company, valued at approximately $39,126,222.15. This represents a 0.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hagerty Stock Performance

Shares of HGTY opened at $9.80 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50-day moving average of $9.01 and a two-hundred day moving average of $9.94. The stock has a market cap of $3.34 billion, a P/E ratio of 89.09 and a beta of 0.88. Hagerty, Inc. has a one year low of $8.03 and a one year high of $12.35.

Hagerty (NYSE:HGTY) last announced 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. Hagerty had a return on equity of 12.06% and a net margin of 5.27%. The firm had revenue of $319.59 million during the quarter, compared to analysts’ expectations of $299.92 million. During the same period last year, the business posted $0.04 earnings per share. As a group, research analysts predict that Hagerty, Inc. will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. decreased their price target on shares of Hagerty from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th.

Hedge Funds Weigh In On Hagerty

A number of institutional investors have recently bought and sold shares of the business. KLP Kapitalforvaltning AS purchased a new stake in shares of Hagerty in the 4th quarter valued at $31,000. Ancora Advisors LLC purchased a new position in shares of Hagerty during the fourth quarter worth $46,000. R Squared Ltd acquired a new position in Hagerty during the fourth quarter valued at $51,000. BNP Paribas Financial Markets purchased a new stake in Hagerty in the fourth quarter valued at $84,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Hagerty in the first quarter valued at $93,000. 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.