Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells $33,401.13 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,001 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $11.13, for a total value of $33,401.13. Following the transaction, the director now owns 5,400,495 shares in the company, valued at $60,107,509.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hagerty Trading Down 3.1 %

Shares of NYSE:HGTY opened at $10.75 on Friday. Hagerty, Inc. has a 12-month low of $7.52 and a 12-month high of $11.47. The business’s fifty day simple moving average is $10.48 and its 200-day simple moving average is $9.29. The company has a market capitalization of $3.62 billion, a PE ratio of 179.20 and a beta of 0.80. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.22.

Hagerty (NYSE:HGTY) last announced its quarterly 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 return on equity of 6.35% and a net margin of 1.82%. The business had revenue of $271.71 million for the quarter, compared to the consensus estimate of $264.32 million. As a group, equities research analysts predict that Hagerty, Inc. will post 0.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. raised their price objective on Hagerty from $9.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HGTY. Blue Trust Inc. acquired a new stake in shares of Hagerty in the 2nd quarter worth $39,000. Vanguard Group Inc. boosted its position in shares of Hagerty by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock worth $18,559,000 after purchasing an additional 21,331 shares in the last quarter. Meixler Investment Management Ltd. boosted its position in shares of Hagerty by 21.2% in the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after purchasing an additional 4,250 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in shares of Hagerty in the 1st quarter worth $3,473,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in shares of Hagerty by 34.7% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock worth $806,000 after purchasing an additional 26,600 shares in the last quarter. 20.51% of the stock is currently 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.