Insider Selling: Hagerty (NYSE:HGTY) Major Shareholder Sells 1,236,750 Shares of Stock

Key Points

• Holding Corp. Hagerty sold 1,236,750 shares of Hagerty, Inc. at an average price of $8.92, totaling approximately $11 million, as disclosed in a recent SEC filing.
• The sales occurred shortly after another significant transaction where Holding Corp. Hagerty sold 8,245,000 shares, amplifying investor interest in HGTY stock.
• Following these transactions, Hagerty, Inc. saw a 1.5% increase in its stock price, reaching $11.19, supported by a positive earnings report that exceeded analyst expectations.

Hagerty, Inc. (NYSE:HGTY - Get Free Report) major shareholder Holding Corp. Hagerty sold 1,236,750 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $8.92, for a total transaction of $11,031,810.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, August 7th, Holding Corp. Hagerty sold 8,245,000 shares of Hagerty stock. The stock was sold at an average price of $8.92, for a total transaction of $73,545,400.00.

Hagerty Price Performance

NYSE HGTY traded down $0.0320 on Wednesday, hitting $10.9080. The company had a trading volume of 62,917 shares, compared to its average volume of 270,486. Hagerty, Inc. has a 12-month low of $8.03 and a 12-month high of $12.35. The company has a market capitalization of $3.73 billion, a PE ratio of 54.54 and a beta of 0.90. The company's fifty day moving average price is $10.27 and its 200-day moving average price is $9.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.06 and a quick ratio of 1.06.

Hagerty (NYSE:HGTY - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. Hagerty had a net margin of 4.88% and a return on equity of 13.76%. The business had revenue of $368.70 million during the quarter, compared to analyst estimates of $347.15 million. Hagerty has set its FY 2025 guidance at EPS. As a group, analysts predict that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Hagerty

A number of large investors have recently modified their holdings of HGTY. JPMorgan Chase & Co. grew its holdings in shares of Hagerty by 2,185.4% during the fourth quarter. JPMorgan Chase & Co. now owns 29,139 shares of the company's stock worth $281,000 after buying an additional 27,864 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Hagerty by 48.6% during the fourth quarter. Legal & General Group Plc now owns 25,148 shares of the company's stock worth $243,000 after buying an additional 8,226 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Hagerty by 21.6% during the fourth quarter. Renaissance Technologies LLC now owns 193,896 shares of the company's stock worth $1,871,000 after buying an additional 34,500 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Hagerty during the fourth quarter worth $879,000. Finally, XTX Topco Ltd purchased a new stake in shares of Hagerty during the fourth quarter worth $119,000. 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.