379,551 Shares in Hagerty, Inc. (NYSE:HGTY) Purchased by Confluence Investment Management LLC

Confluence Investment Management LLC bought a new stake in shares of Hagerty, Inc. (NYSE:HGTY) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 379,551 shares of the company’s stock, valued at approximately $3,473,000. Confluence Investment Management LLC owned 0.11% of Hagerty at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Fenimore Asset Management Inc. increased its stake in Hagerty by 0.8% during the 4th quarter. Fenimore Asset Management Inc. now owns 945,286 shares of the company’s stock valued at $7,373,000 after buying an additional 7,600 shares during the period. Lincoln Capital LLC increased its stake in Hagerty by 18.0% during the 4th quarter. Lincoln Capital LLC now owns 328,763 shares of the company’s stock valued at $2,593,000 after buying an additional 50,140 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. grew its stake 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 during the last quarter. Swiss National Bank grew its stake in shares of Hagerty by 3.3% in the 3rd quarter. Swiss National Bank now owns 55,700 shares of the company’s stock worth $455,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Hagerty by 314.2% in the 3rd quarter. Barclays PLC now owns 26,815 shares of the company’s stock worth $219,000 after purchasing an additional 20,341 shares during the last quarter. Institutional investors and hedge funds own 20.51% of the company’s stock.

Hagerty Stock Performance

Shares of HGTY opened at $10.29 on Wednesday. The firm’s 50 day moving average is $9.15 and its 200-day moving average is $8.65. The stock has a market capitalization of $3.47 billion, a P/E ratio of 171.53 and a beta of 0.78. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.47 and a quick ratio of 1.47. Hagerty, Inc. has a 12-month low of $7.52 and a 12-month high of $10.42.

Hagerty (NYSE:HGTY) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share (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 company had revenue of $271.71 million for the quarter, compared to analysts’ expectations of $264.32 million. Equities research analysts anticipate that Hagerty, Inc. will post 0.21 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert I. Kauffman sold 3,465 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $9.02, for a total transaction of $31,254.30. Following the completion of the sale, the director now directly owns 3,424,072 shares in the company, valued at $30,885,129.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Robert I. Kauffman sold 3,465 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $9.02, for a total transaction of $31,254.30. Following the completion of the sale, the director now directly owns 3,424,072 shares in the company, valued at $30,885,129.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert I. Kauffman sold 2,848 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $9.08, for a total transaction of $25,859.84. Following the sale, the director now owns 3,447,059 shares of the company’s stock, valued at $31,299,295.72. The disclosure for this sale can be found here. Insiders sold a total of 93,140 shares of company stock worth $894,795 over the last ninety days. 17.90% of the stock is currently owned by company insiders.

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.