Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 10,380 Shares of Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 10,380 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $9.66, for a total value of $100,270.80. Following the completion of the transaction, the director now owns 3,789,071 shares of the company's stock, valued at $36,602,425.86. The trade was a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Hagerty Stock Up 2.0%

NYSE:HGTY traded up $0.20 during mid-day trading on Friday, hitting $9.86. The company had a trading volume of 81,053 shares, compared to its average volume of 82,801. The business has a fifty day simple moving average of $9.34 and a 200-day simple moving average of $9.61. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 49.28 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 has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25.

Hagerty (NYSE:HGTY - Get Free Report) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $299.92 million. Hagerty had a return on equity of 13.55% and a net margin of 4.73%. During the same period last year, the business posted $0.04 EPS. Equities analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new position in Hagerty in the fourth quarter valued at about $31,000. Ancora Advisors LLC acquired a new position in shares of Hagerty in the 4th quarter valued at approximately $46,000. BNP Paribas Financial Markets purchased a new position in shares of Hagerty during the 4th quarter valued at approximately $84,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Hagerty during the first quarter worth approximately $93,000. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of 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 last quarter. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

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.