Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 4,610 Shares of Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 4,610 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $9.55, for a total value of $44,025.50. Following the sale, the director now directly owns 3,799,451 shares in the company, valued at approximately $36,284,757.05. This represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Hagerty Price Performance

Shares of HGTY stock traded up $0.20 during mid-day trading on Friday, hitting $9.86. The company had a trading volume of 81,053 shares, compared to its average volume of 82,801. Hagerty, Inc. has a 52-week low of $8.03 and a 52-week high of $12.35. The stock's 50 day moving average price is $9.34 and its 200-day moving average price is $9.61. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $3.37 billion, a P/E ratio of 49.28 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 analysts' consensus estimates of $0.02 by $0.06. The company had revenue of $319.59 million for the quarter, compared to the consensus estimate 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 firm posted $0.04 EPS. Equities research analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Hagerty

Several large investors have recently made changes to their positions in the company. Pembroke Management LTD purchased a new position in Hagerty during the 4th quarter valued at approximately $9,201,000. Bank of New York Mellon Corp purchased a new stake in shares of Hagerty during the 4th quarter worth approximately $182,000. Steward Partners Investment Advisory LLC boosted its position 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. Charles Schwab Investment Management Inc. grew its holdings in shares of Hagerty by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 140,037 shares of the company's stock valued at $1,351,000 after purchasing an additional 8,258 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Hagerty in the fourth quarter valued at $879,000. 20.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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