Hagerty, Inc. (NYSE:HGTY) Major Shareholder Holding Corp. Hagerty Sells 8,245,000 Shares

Key Points

• Hagerty, Inc. major shareholder Holding Corp. Hagerty sold 8,245,000 shares at an average price of $8.92, amounting to a total of $73.5 million in value.
• The company's earnings report for the last quarter showed an EPS of $0.13, surpassing analysts' expectations of $0.11, with revenue of $368.7 million.
• Approximately 20.51% of Hagerty's stock is currently owned by institutional investors and hedge funds, indicating significant interest from major financial players.

Hagerty, Inc. (NYSE:HGTY - Get Free Report) major shareholder Holding Corp. Hagerty sold 8,245,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $8.92, for a total transaction of $73,545,400.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Holding Corp. Hagerty also recently made the following trade(s):

• On Wednesday, August 13th, Holding Corp. Hagerty sold 1,236,750 shares of Hagerty stock. The shares were sold at an average price of $8.92, for a total transaction of $11,031,810.00.

Hagerty Stock Performance

NYSE:HGTY traded up $0.16 on Friday, reaching $11.19. 104,946 shares of the company's stock were exchanged, compared to its average volume of 269,862. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 55.95 and a beta of 0.90. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $12.35. The stock has a fifty day simple moving average of $10.19 and a 200-day simple moving average of $9.67.

Hagerty (NYSE:HGTY - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.02. The business had revenue of $368.70 million for the quarter, compared to the consensus estimate of $347.15 million. Hagerty had a net margin of 4.88% and a return on equity of 13.76%. As a group, sell-side analysts predict that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Trading of Hagerty

Several large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in Hagerty in the 4th quarter worth about $879,000. Legal & General Group Plc boosted its stake in Hagerty by 48.6% in the 4th quarter. Legal & General Group Plc now owns 25,148 shares of the company's stock worth $243,000 after purchasing an additional 8,226 shares during the period. Jane Street Group LLC bought a new position in Hagerty in the 4th quarter worth approximately $230,000. XTX Topco Ltd bought a new position in shares of Hagerty during the 4th quarter valued at approximately $119,000. Finally, Voya Investment Management LLC bought a new position in shares of Hagerty during the 4th quarter valued at approximately $104,000. 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.