Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 7,000 Shares of Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 7,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $10.18, for a total value of $71,260.00. Following the completion of the sale, the director owned 3,687,235 shares in the company, valued at $37,536,052.30. The trade was a 0.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Hagerty Stock Up 1.6%

Shares of Hagerty stock traded up $0.16 on Thursday, reaching $10.19. 33,435 shares of the company were exchanged, compared to its average volume of 73,472. Hagerty, Inc. has a one year low of $8.03 and a one year high of $12.35. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 50.95 and a beta of 0.90. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average of $9.59 and a 200 day moving average of $9.56.

Hagerty (NYSE:HGTY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.06. Hagerty had a return on equity of 13.55% and a net margin of 4.73%. The company had revenue of $319.59 million for the quarter, compared to analysts' expectations of $299.92 million. During the same quarter in the prior year, the business posted $0.04 EPS. On average, equities research analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Hagerty

A number of large investors have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC raised its stake in Hagerty by 15.7% in the 1st quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company's stock valued at $49,438,000 after acquiring an additional 743,597 shares during the period. Markel Group Inc. raised its stake in Hagerty by 3.6% in the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company's stock valued at $29,992,000 after acquiring an additional 108,000 shares during the period. Greenhaven Road Investment Management L.P. raised its stake in Hagerty by 10.1% in the 1st quarter. Greenhaven Road Investment Management L.P. now owns 1,360,506 shares of the company's stock valued at $12,299,000 after acquiring an additional 124,336 shares during the period. Lincoln Capital LLC raised its stake in Hagerty by 12.3% in the 1st quarter. Lincoln Capital LLC now owns 555,286 shares of the company's stock valued at $4,753,000 after acquiring an additional 60,791 shares during the period. Finally, Garner Asset Management Corp bought a new stake in Hagerty in the 1st quarter valued at $2,909,000. Institutional investors own 20.51% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.