Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 3,927 Shares of Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 3,927 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $9.60, for a total transaction of $37,699.20. Following the completion of the transaction, the director now directly owns 3,829,189 shares of the company's stock, valued at $36,760,214.40. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Hagerty Stock Performance

Hagerty stock traded down $0.10 during midday trading on Friday, reaching $9.42. 4,368 shares of the company's stock were exchanged, compared to its average volume of 65,508. The stock's 50-day simple moving average is $9.21 and its 200 day simple moving average is $9.71. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 85.59 and a beta of 0.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $12.35.

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

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut their price target 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.

Hedge Funds Weigh In On Hagerty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS acquired a new position in shares of Hagerty in the fourth quarter valued at $31,000. Ancora Advisors LLC bought a new stake in shares of Hagerty during the 4th quarter worth about $46,000. BNP Paribas Financial Markets bought a new stake in shares of Hagerty during the 4th quarter worth about $84,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Hagerty in the 1st quarter valued at about $93,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in 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 period. 20.51% of the stock is owned by 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.