Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 15,823 Shares of Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 15,823 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $10.08, for a total value of $159,495.84. Following the completion of the sale, the director now directly owns 3,851,869 shares in the company, valued at $38,826,839.52. This represents a 0.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Hagerty Price Performance

Hagerty stock traded up $0.05 on Friday, reaching $10.08. The company's stock had a trading volume of 28,458 shares, compared to its average volume of 85,754. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $12.35. The business's fifty day moving average price is $9.11 and its 200 day moving average price is $9.77. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 91.55 and a beta of 0.91.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC boosted its holdings in shares of Hagerty by 35.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock valued at $100,000 after acquiring an additional 2,726 shares during the last quarter. Swiss National Bank grew its position in shares of Hagerty by 6.0% in the 4th quarter. Swiss National Bank now owns 53,000 shares of the company's stock worth $511,000 after buying an additional 3,000 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Hagerty during the 4th quarter worth approximately $31,000. Garde Capital Inc. increased its stake in shares of Hagerty by 4.0% in the fourth quarter. Garde Capital Inc. now owns 103,960 shares of the company's stock worth $1,003,000 after acquiring an additional 3,960 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Hagerty by 7.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,205 shares of the company's stock worth $620,000 after purchasing an additional 4,575 shares during the period. Hedge funds and other institutional investors own 20.51% of the company's stock.

Wall Street Analyst Weigh In

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

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.