Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 31,110 Shares of Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 31,110 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $10.14, for a total value of $315,455.40. Following the transaction, the director now owns 3,738,504 shares in the company, valued at $37,908,430.56. The trade was a 0.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Hagerty Price Performance

Hagerty stock traded up $0.08 during mid-day trading on Tuesday, reaching $10.10. 91,243 shares of the company were exchanged, compared to its average volume of 82,804. The company has a fifty day simple moving average of $9.36 and a 200-day simple moving average of $9.59. The firm has a market cap of $3.45 billion, a PE ratio of 50.52 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.01. Hagerty, Inc. has a 12 month low of $8.03 and a 12 month high of $12.35.

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

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. dropped their price objective 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.

Institutional Investors Weigh In On Hagerty

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new stake in Hagerty in the fourth quarter valued at approximately $182,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Hagerty by 35.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock valued at $100,000 after acquiring an additional 2,726 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Hagerty by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 140,037 shares of the company's stock valued at $1,351,000 after acquiring an additional 8,258 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Hagerty during the 4th quarter worth $879,000. Finally, Markel Group Inc. increased its holdings in Hagerty by 3.6% in the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company's stock worth $29,992,000 after purchasing an additional 108,000 shares in the last quarter. 20.51% of the stock is owned by institutional investors.

Hagerty Company Profile

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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