Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 7,400 Shares of Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 7,400 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $9.32, for a total value of $68,968.00. Following the completion of the sale, the director now owns 3,923,007 shares of the company's stock, valued at $36,562,425.24. The trade was a 0.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Hagerty Price Performance

Shares of HGTY stock traded up $0.05 during trading hours on Friday, hitting $9.76. The stock had a trading volume of 177,080 shares, compared to its average volume of 86,794. Hagerty, Inc. has a one year low of $8.03 and a one year high of $12.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. The stock's 50-day moving average price is $9.04 and its two-hundred day moving average price is $9.80. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 88.73 and a beta of 0.88.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HGTY. KLP Kapitalforvaltning AS purchased a new position in Hagerty in the fourth quarter worth about $31,000. Ancora Advisors LLC purchased a new position in Hagerty in the fourth quarter worth about $46,000. R Squared Ltd purchased a new position in Hagerty in the fourth quarter worth about $51,000. BNP Paribas Financial Markets purchased a new position in Hagerty in the fourth quarter worth about $84,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Hagerty in the first quarter worth about $93,000. Hedge funds and other institutional investors own 20.51% of the company's stock.

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.