Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 36,174 Shares of Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 36,174 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $10.12, for a total value of $366,080.88. Following the completion of the sale, the director owned 3,405,149 shares of the company's stock, valued at $34,460,107.88. This represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hagerty Stock Up 3.1%

NYSE:HGTY traded up $0.32 during mid-day trading on Thursday, hitting $10.60. 218,111 shares of the company's stock traded hands, compared to its average volume of 79,157. The company has a fifty day moving average of $9.87 and a 200 day moving average of $9.56. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $3.62 billion, a P/E ratio of 52.98 and a beta of 0.90. Hagerty, Inc. has a twelve month low of $8.03 and a twelve 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 analysts' consensus estimates of $0.02 by $0.06. The business had revenue of $319.59 million during the quarter, compared to analyst estimates of $299.92 million. Hagerty had a return on equity of 13.55% and a net margin of 4.73%. During the same quarter last year, the business posted $0.04 EPS. On average, analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current year.

Institutional Investors Weigh In On Hagerty

A number of institutional investors have recently modified their holdings of the business. IFP Advisors Inc purchased a new position in Hagerty during the second quarter valued at $30,000. KLP Kapitalforvaltning AS purchased a new position in Hagerty in the 4th quarter valued at about $31,000. Ancora Advisors LLC purchased a new position in Hagerty in the 4th quarter valued at about $46,000. BNP Paribas Financial Markets acquired a new stake in Hagerty in the 4th quarter worth about $84,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Hagerty during the 1st quarter worth approximately $93,000. 20.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered their target price on Hagerty from $11.00 to $10.00 and set a "neutral" rating for the company in a report 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.