Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 9,970 Shares of Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 9,970 shares of the company's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $9.94, for a total value of $99,101.80. Following the completion of the transaction, the director directly owned 3,499,281 shares in the company, valued at $34,782,853.14. This trade represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Hagerty Stock Performance

NYSE:HGTY traded up $0.01 during mid-day trading on Monday, reaching $10.01. The company's stock had a trading volume of 49,025 shares, compared to its average volume of 72,411. 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 stock has a market cap of $3.42 billion, a P/E ratio of 50.05 and a beta of 0.90. The firm's fifty day moving average price is $9.75 and its two-hundred day moving average price is $9.53. Hagerty, Inc. has a 12-month low of $8.03 and a 12-month high of $12.35.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Hagerty

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new stake in shares of Hagerty during the 4th quarter valued at about $182,000. Steward Partners Investment Advisory LLC grew its position in Hagerty by 35.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock valued at $100,000 after buying an additional 2,726 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Hagerty by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 140,037 shares of the company's stock valued at $1,351,000 after buying an additional 8,258 shares during the last quarter. Raymond James Financial Inc. bought a new position in Hagerty in the fourth quarter worth approximately $879,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Hagerty by 41.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 137,101 shares of the company's stock worth $1,323,000 after acquiring an additional 39,958 shares during the last quarter. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

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.