Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 6,427 Shares of Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 6,427 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $9.80, for a total value of $62,984.60. Following the sale, the director now directly owns 3,833,116 shares in the company, valued at approximately $37,564,536.80. This represents a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Hagerty Stock Performance

Shares of HGTY stock traded down $0.04 on Friday, hitting $9.47. 81,362 shares of the stock traded hands, compared to its average volume of 85,502. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $3.24 billion, a PE ratio of 86.08 and a beta of 0.91. Hagerty, Inc. has a 1-year low of $8.03 and a 1-year high of $12.35. The company's fifty day moving average is $9.23 and its 200 day moving average is $9.70.

Hagerty (NYSE:HGTY - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.06. Hagerty had a return on equity of 12.06% and a net margin of 5.27%. The firm had revenue of $319.59 million for the quarter, compared to analyst estimates of $299.92 million. During the same period last year, the company earned $0.04 earnings per share. On average, equities research analysts predict that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hagerty

Large investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS acquired a new stake in Hagerty in the fourth quarter worth $31,000. Ancora Advisors LLC acquired a new stake in Hagerty in the fourth quarter worth $46,000. BNP Paribas Financial Markets acquired a new stake in Hagerty in the fourth quarter worth $84,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Hagerty in the first quarter worth $93,000. Finally, Steward Partners Investment Advisory LLC increased its position in Hagerty by 35.9% in 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 period. 20.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. dropped their price target on Hagerty from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th.

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.