Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 1,967 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 1,967 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $10.43, for a total value of $20,515.81. Following the transaction, the director now directly owns 5,046,393 shares of the company’s stock, valued at approximately $52,633,878.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Hagerty Stock Performance

Shares of Hagerty stock opened at $10.55 on Wednesday. The business has a 50-day moving average price of $10.97 and a two-hundred day moving average price of $10.35. Hagerty, Inc. has a 1-year low of $7.60 and a 1-year high of $12.35. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.55 billion, a P/E ratio of 175.83 and a beta of 0.79.

Hagerty (NYSE:HGTY) last issued its earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $313.23 million during the quarter, compared to the consensus estimate of $312.64 million. Hagerty had a return on equity of 15.68% and a net margin of 5.37%. As a group, analysts anticipate that Hagerty, Inc. will post 0.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Truist Financial increased 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. JPMorgan Chase & Co. raised their price target on shares of 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

Several institutional investors and hedge funds have recently bought and sold shares of HGTY. Blue Trust Inc. bought a new stake in Hagerty in the second quarter valued at $39,000. Algert Global LLC acquired a new stake in shares of Hagerty in the 2nd quarter valued at about $108,000. Dimensional Fund Advisors LP acquired a new stake in shares of Hagerty in the 2nd quarter valued at about $139,000. Lakewood Asset Management LLC acquired a new position in Hagerty during the 3rd quarter worth approximately $186,000. Finally, Goldstone Financial Group LLC bought a new position in Hagerty in the third quarter worth approximately $236,000. 20.51% of the stock is owned by institutional investors.

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.