Blue Trust Inc. Makes New $39,000 Investment in Hagerty, Inc. (NYSE:HGTY)

Blue Trust Inc. purchased a new stake in Hagerty, Inc. (NYSE:HGTY) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 3,784 shares of the company’s stock, valued at approximately $39,000.

A number of other hedge funds have also recently made changes to their positions in the company. MeadowBrook Investment Advisors LLC bought a new position in shares of Hagerty in the fourth quarter worth approximately $132,000. Meixler Investment Management Ltd. increased its holdings 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 buying an additional 4,250 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in shares of Hagerty by 34.7% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after buying an additional 26,600 shares in the last quarter. Confluence Investment Management LLC bought a new position in Hagerty in the first quarter valued at $3,473,000. Finally, Vanguard Group Inc. raised its position in Hagerty by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock valued at $18,559,000 after purchasing an additional 21,331 shares in the last quarter. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

Hagerty Stock Up 2.2 %

HGTY opened at $11.65 on Friday. Hagerty, Inc. has a 12 month low of $7.52 and a 12 month high of $11.98. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $10.80 and its 200-day moving average price is $9.56. The company has a market cap of $3.92 billion, a P/E ratio of 194.17 and a beta of 0.80.

Insiders Place Their Bets

In other news, Director Robert I. Kauffman sold 10,515 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $9.26, for a total value of $97,368.90. Following the transaction, the director now owns 3,374,817 shares in the company, valued at $31,250,805.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert I. Kauffman sold 9,585 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $11.25, for a total transaction of $107,831.25. Following the transaction, the director now directly owns 5,454,558 shares of the company’s stock, valued at $61,363,777.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert I. Kauffman sold 10,515 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $9.26, for a total value of $97,368.90. Following the completion of the sale, the director now directly owns 3,374,817 shares of the company’s stock, valued at approximately $31,250,805.42. The disclosure for this sale can be found here. Insiders have sold 320,530 shares of company stock valued at $3,358,313 in the last ninety days. Company insiders own 17.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on HGTY shares. JPMorgan Chase & Co. raised their price objective on Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Truist Financial boosted their price objective on shares of Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Thursday, August 8th.

Hagerty 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.