Insider Selling: Hagerty, Inc. (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 company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $8.92, for a total value of $11,031,810.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own more than 10% 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 value of $73,545,400.00.

Hagerty Price Performance

Shares of Hagerty stock traded down $0.19 during trading on Monday, reaching $11.00. 99,215 shares of the stock traded hands, compared to its average volume of 94,638. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 54.98 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 company has a debt-to-equity ratio of 0.27, a current ratio of 1.06 and a quick ratio of 1.06. The business has a fifty day simple moving average of $10.19 and a two-hundred day simple moving average of $9.67.

Hagerty (NYSE:HGTY - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $368.70 million for the quarter, compared to analyst estimates of $347.15 million. Hagerty had a net margin of 4.88% and a return on equity of 13.76%. Sell-side analysts expect that Hagerty, Inc. will post 0.22 EPS for the current year.

Hedge Funds Weigh In On Hagerty

Several institutional investors and hedge funds have recently modified their holdings of HGTY. JPMorgan Chase & Co. lifted its position in shares of Hagerty by 2,185.4% in the 4th quarter. JPMorgan Chase & Co. now owns 29,139 shares of the company's stock worth $281,000 after buying an additional 27,864 shares during the last quarter. Legal & General Group Plc lifted its position in shares of 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 buying an additional 8,226 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Hagerty by 21.6% in the 4th 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 during the last quarter. Raymond James Financial Inc. bought a new position in shares of Hagerty in the 4th quarter worth about $879,000. Finally, XTX Topco Ltd bought a new position in shares of Hagerty in the 4th quarter worth about $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.