Fenimore Asset Management Inc Sells 451,536 Shares of Hagerty, Inc. (NYSE:HGTY)

Fenimore Asset Management Inc cut its stake in shares of Hagerty, Inc. (NYSE:HGTY - Free Report) by 47.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 498,986 shares of the company's stock after selling 451,536 shares during the period. Fenimore Asset Management Inc owned about 0.15% of Hagerty worth $4,511,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HGTY. Pembroke Management LTD bought a new stake in shares of Hagerty during the fourth quarter worth about $9,201,000. Bank of New York Mellon Corp bought a new stake in Hagerty during the 4th quarter worth approximately $182,000. Steward Partners Investment Advisory LLC grew its holdings in Hagerty by 35.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock worth $100,000 after acquiring an additional 2,726 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Hagerty by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 140,037 shares of the company's stock valued at $1,351,000 after acquiring an additional 8,258 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Hagerty during the fourth quarter valued at $879,000. 20.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reduced their price objective on shares of Hagerty from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th.

Hagerty Trading Down 2.5%

Shares of HGTY stock traded down $0.25 on Monday, hitting $9.77. The company had a trading volume of 63,691 shares, compared to its average volume of 85,984. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $12.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $3.34 billion, a P/E ratio of 88.82 and a beta of 0.91. The stock's 50-day moving average is $9.13 and its two-hundred day moving average is $9.74.

Hagerty (NYSE:HGTY - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.06. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. The business had revenue of $319.59 million during the quarter, compared to the consensus estimate of $299.92 million. During the same quarter in the prior year, the firm posted $0.04 EPS. On average, equities research analysts anticipate that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Transactions at Hagerty

In other Hagerty news, Director Laurie Harris sold 3,934 shares of Hagerty stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $8.41, for a total value of $33,084.94. Following the completion of the sale, the director now directly owns 30,349 shares in the company, valued at approximately $255,235.09. The trade was a 11.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert I. Kauffman sold 33,765 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $9.67, for a total value of $326,507.55. Following the completion of the transaction, the director now directly owns 4,046,145 shares in the company, valued at approximately $39,126,222.15. This trade represents a 0.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 190,929 shares of company stock worth $1,830,758 over the last three months. 17.90% of the stock is owned by company insiders.

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.