Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 19,627 Shares of Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 19,627 shares of Hagerty stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $10.14, for a total value of $199,017.78. Following the completion of the transaction, the director now owns 3,706,267 shares in the company, valued at $37,581,547.38. The trade was a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hagerty Price Performance

Shares of Hagerty stock traded up $0.09 during trading on Friday, hitting $10.16. 63,184 shares of the company's stock traded hands, compared to its average volume of 77,024. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.01. The firm's fifty day moving average price is $9.45 and its 200 day moving average price is $9.59. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $12.35. The company has a market cap of $3.47 billion, a PE ratio of 50.82 and a beta of 0.91.

Hagerty (NYSE:HGTY - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.06. Hagerty had a return on equity of 13.55% and a net margin of 4.73%. The company had revenue of $319.59 million for the quarter, compared to the consensus estimate of $299.92 million. During the same period in the previous year, the business earned $0.04 earnings per share. Analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Hagerty

Several institutional investors and hedge funds have recently made changes to their positions in HGTY. Neuberger Berman Group LLC grew its stake in Hagerty by 15.7% during the first quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company's stock worth $49,438,000 after buying an additional 743,597 shares during the last quarter. Garner Asset Management Corp bought a new position in Hagerty in the 1st quarter valued at $2,909,000. Greenhaven Road Investment Management L.P. raised its position in shares of Hagerty by 10.1% during the first quarter. Greenhaven Road Investment Management L.P. now owns 1,360,506 shares of the company's stock worth $12,299,000 after acquiring an additional 124,336 shares during the last quarter. Markel Group Inc. boosted its holdings in Hagerty by 3.6% in the fourth 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 last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Hagerty during the 4th quarter worth about $997,000. Institutional investors and hedge funds own 20.51% of the company's stock.

Analyst Upgrades and Downgrades

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

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.

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