Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 2,186 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 2,186 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $10.60, for a total value of $23,171.60. Following the completion of the sale, the director now directly owns 5,148,917 shares in the company, valued at $54,578,520.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hagerty Trading Down 0.5 %

Shares of HGTY stock traded down $0.05 during mid-day trading on Wednesday, reaching $10.59. 26,943 shares of the stock traded hands, compared to its average volume of 82,361. The stock’s fifty day simple moving average is $11.15 and its two-hundred day simple moving average is $10.05. Hagerty, Inc. has a 1-year low of $7.52 and a 1-year high of $12.35. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 176.53 and a beta of 0.81. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22.

Hagerty (NYSE:HGTY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $313.23 million for the quarter, compared to analyst estimates of $312.64 million. Hagerty had a return on equity of 15.68% and a net margin of 5.37%. On average, research analysts anticipate that Hagerty, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HGTY. JPMorgan Chase & Co. lifted their price target on Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Truist Financial lifted their price target on Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Thursday, August 8th.

Hedge Funds Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Hagerty by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock worth $18,559,000 after acquiring an additional 21,331 shares during the period. Confluence Investment Management LLC acquired a new position in shares of Hagerty in the first quarter worth approximately $3,473,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in shares of Hagerty by 34.7% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock worth $806,000 after acquiring an additional 26,600 shares during the period. Meixler Investment Management Ltd. lifted its stake in shares of Hagerty by 21.2% in the first quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after acquiring an additional 4,250 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Hagerty in the second quarter worth approximately $139,000. 20.51% of the stock is owned by institutional investors and hedge funds.

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.