Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 33,765 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 33,765 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $9.67, for a total transaction of $326,507.55. Following the completion of the transaction, the director now owns 4,046,145 shares of the company’s stock, valued at approximately $39,126,222.15. This represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hagerty Stock Performance

Shares of HGTY stock opened at $9.80 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23. Hagerty, Inc. has a 12-month low of $8.03 and a 12-month high of $12.35. The business’s 50 day moving average is $9.01 and its two-hundred day moving average is $9.94. The company has a market capitalization of $3.34 billion, a P/E ratio of 89.09 and a beta of 0.88.

Hagerty (NYSE:HGTY) last announced 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 business had revenue of $319.59 million during the quarter, compared to the consensus estimate of $299.92 million. During the same period in the prior year, the company posted $0.04 EPS. Analysts expect that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Hagerty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS purchased a new stake in shares of Hagerty during the fourth quarter worth about $31,000. Ancora Advisors LLC acquired a new stake in Hagerty in the 4th quarter worth about $46,000. R Squared Ltd purchased a new stake in Hagerty during the 4th quarter worth approximately $51,000. BNP Paribas Financial Markets acquired a new position in shares of Hagerty during the fourth quarter valued at approximately $84,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Hagerty in the first quarter valued at approximately $93,000. 20.51% of the stock is owned by hedge funds and other 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.