Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 8,362 Shares of Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 8,362 shares of Hagerty stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $10.00, for a total transaction of $83,620.00. Following the sale, the director owned 3,490,919 shares of the company's stock, valued at approximately $34,909,190. The trade was a 0.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Hagerty Stock Up 0.4%

Shares of HGTY stock traded up $0.04 on Friday, hitting $10.08. The stock had a trading volume of 77,246 shares, compared to its average volume of 72,041. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average price of $9.81 and a 200 day moving average price of $9.55. The company has a market cap of $3.44 billion, a PE ratio of 50.40 and a beta of 0.90. Hagerty, Inc. has a one year low of $8.03 and a one year high of $12.35.

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

Institutional Trading of Hagerty

Large investors have recently made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new stake in shares of Hagerty during the fourth quarter worth approximately $31,000. Ancora Advisors LLC purchased a new stake in shares of Hagerty during the fourth quarter worth approximately $46,000. BNP Paribas Financial Markets purchased a new stake in shares of Hagerty during the fourth quarter worth approximately $84,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Hagerty during the first quarter worth approximately $93,000. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Hagerty by 35.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock worth $100,000 after purchasing an additional 2,726 shares during the last quarter. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reduced their target price on shares of Hagerty from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report 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.