Shares of Hagerty, Inc. (NYSE:HGTY - Get Free Report) hit a new 52-week low during trading on Monday following insider selling activity. The company traded as low as $8.00 and last traded at $8.62, with a volume of 601 shares trading hands. The stock had previously closed at $8.66.
Specifically, Director Robert I. Kauffman sold 8,179 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $9.10, for a total value of $74,428.90. Following the sale, the director now owns 4,084,967 shares of the company's stock, valued at approximately $37,173,199.70. This represents a 0.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Analyst Upgrades and Downgrades
Separately, JPMorgan Chase & Co. lowered their price target on Hagerty from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th.
Check Out Our Latest Analysis on HGTY
Hagerty Stock Performance
The business has a 50-day moving average price of $9.12 and a 200-day moving average price of $10.01. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 79.64 and a beta of 0.88. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23.
Hedge Funds Weigh In On Hagerty
Several hedge funds have recently made changes to their positions in HGTY. Pembroke Management LTD acquired a new position in shares of Hagerty in the 4th quarter valued at $9,201,000. Neuberger Berman Group LLC increased its position in shares of Hagerty by 11.4% in the 4th quarter. Neuberger Berman Group LLC now owns 4,725,196 shares of the company's stock valued at $45,598,000 after acquiring an additional 483,324 shares during the period. Markel Group Inc. increased its position in shares of Hagerty by 3.6% in the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company's stock valued at $29,992,000 after acquiring an additional 108,000 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of Hagerty in the 4th quarter valued at $997,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Hagerty in the 4th quarter valued at $879,000. 20.51% of the stock is owned by institutional investors and hedge funds.
Hagerty Company Profile
(
Get Free Report)
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.
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