Hagerty (NYSE:HGTY) Shares Down 0.2% - Should You Sell?

Hagerty, Inc. (NYSE:HGTY - Get Free Report) shares were down 0.2% during trading on Thursday . The company traded as low as $10.02 and last traded at $10.08. Approximately 77,741 shares were traded during trading, an increase of 7% from the average daily volume of 72,699 shares. The stock had previously closed at $10.10.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. cut their price objective on shares of Hagerty from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th.

Hagerty Price Performance

The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.25. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 50.05 and a beta of 0.90. The stock's 50-day moving average price is $9.75 and its 200 day moving average price is $9.53.

Hagerty (NYSE:HGTY - Get Free Report) last posted its quarterly 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 net margin of 4.73% and a return on equity of 13.55%. The firm had revenue of $319.59 million during the quarter, compared to analyst estimates of $299.92 million. During the same quarter in the prior year, the business posted $0.04 earnings per share. Equities research analysts predict that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Insider Transactions at Hagerty

In related news, Director Robert I. Kauffman sold 98,766 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $10.07, for a total value of $994,573.62. Following the completion of the transaction, the director owned 3,550,490 shares of the company's stock, valued at $35,753,434.30. This represents a 2.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 491,359 shares of company stock valued at $4,878,077 over the last three months. Corporate insiders own 17.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS bought a new stake in Hagerty during the fourth quarter worth about $31,000. Ancora Advisors LLC bought a new stake in Hagerty during the fourth quarter worth about $46,000. BNP Paribas Financial Markets bought a new stake in Hagerty during the fourth quarter worth about $84,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Hagerty during the first quarter worth about $93,000. Finally, Steward Partners Investment Advisory LLC grew its stake in Hagerty by 35.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock worth $100,000 after buying an additional 2,726 shares during the last quarter. Institutional investors and hedge funds 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.