Lincoln Capital LLC Has $4.75 Million Holdings in Hagerty, Inc. $HGTY

Key Points

• Lincoln Capital LLC increased its holdings in Hagerty, Inc. by 12.3%, owning $4.75 million worth of shares at the end of the most recent reporting period.
• Insider activity saw major shareholder Holding Corp. Hagerty sell 8.24 million shares, contributing to a total of 11.9 million shares sold by insiders over the past three months.
• Hagerty reported earnings of $0.13 per share, surpassing analysts' expectations, along with revenues of $368.7 million for the quarter.

Lincoln Capital LLC boosted its position in Hagerty, Inc. (NYSE:HGTY - Free Report) by 12.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 555,286 shares of the company's stock after buying an additional 60,791 shares during the quarter. Hagerty makes up about 1.0% of Lincoln Capital LLC's portfolio, making the stock its 25th biggest position. Lincoln Capital LLC owned about 0.16% of Hagerty worth $4,753,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Hagerty by 2,185.4% in the fourth quarter. JPMorgan Chase & Co. now owns 29,139 shares of the company's stock valued at $281,000 after purchasing an additional 27,864 shares in the last quarter. Legal & General Group Plc grew its position in Hagerty by 48.6% in the fourth quarter. Legal & General Group Plc now owns 25,148 shares of the company's stock valued at $243,000 after purchasing an additional 8,226 shares in the last quarter. Renaissance Technologies LLC grew its position in Hagerty by 21.6% in the fourth quarter. Renaissance Technologies LLC now owns 193,896 shares of the company's stock valued at $1,871,000 after purchasing an additional 34,500 shares in the last quarter. Raymond James Financial Inc. bought a new position in Hagerty in the fourth quarter valued at $879,000. Finally, XTX Topco Ltd bought a new position in Hagerty in the fourth quarter valued at $119,000. Institutional investors and hedge funds own 20.51% of the company's stock.

Insider Activity

In related news, major shareholder Holding Corp. Hagerty sold 8,245,000 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $8.92, for a total transaction of $73,545,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert I. Kauffman sold 1,455,000 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $8.92, for a total value of $12,978,600.00. Following the sale, the director owned 1,721,662 shares in the company, valued at $15,357,225.04. This represents a 45.80% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,899,059 shares of company stock worth $107,042,574. Insiders own 16.70% of the company's stock.

Hagerty Stock Performance

Shares of HGTY stock opened at $11.19 on Monday. The stock has a market cap of $3.83 billion, a P/E ratio of 55.95 and a beta of 0.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.06 and a quick ratio of 1.06. The company has a fifty day moving average price of $10.19 and a two-hundred day moving average price of $9.67. Hagerty, Inc. has a one year low of $8.03 and a one year high of $12.35.

Hagerty (NYSE:HGTY - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. The company had revenue of $368.70 million during the quarter, compared to analysts' expectations of $347.15 million. Hagerty had a net margin of 4.88% and a return on equity of 13.76%. As a group, equities analysts predict that Hagerty, Inc. will post 0.22 EPS for the current year.

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.

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