Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells $171,762.88 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 14,507 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $11.84, for a total value of $171,762.88. Following the completion of the sale, the director now directly owns 5,234,306 shares in the company, valued at approximately $61,974,183.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Hagerty Price Performance

Shares of HGTY stock opened at $11.46 on Friday. The stock has a 50 day moving average of $11.17 and a two-hundred day moving average of $9.84. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. Hagerty, Inc. has a 12 month low of $7.52 and a 12 month high of $12.35. The company has a market capitalization of $3.86 billion, a P/E ratio of 191.00 and a beta of 0.81.

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

Institutional Trading of Hagerty

Several institutional investors have recently made changes to their positions in the business. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in Hagerty by 34.7% during the fourth 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 period. Confluence Investment Management LLC acquired a new position in shares of Hagerty in the 1st quarter worth approximately $3,473,000. Meixler Investment Management Ltd. lifted its position in shares of Hagerty by 21.2% during 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 period. Vanguard Group Inc. grew its position in Hagerty by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock valued at $18,559,000 after acquiring an additional 21,331 shares during the period. Finally, Blue Trust Inc. acquired a new position in Hagerty during the second quarter worth $39,000. 20.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HGTY. Truist Financial raised their price objective on shares of Hagerty from $10.00 to $11.00 and gave the stock 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 research report on Thursday, July 11th.

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.