Hagerty (NYSE:HGTY) Sees Large Volume Increase

Hagerty, Inc. (NYSE:HGTY) saw unusually-high trading volume on Tuesday . Approximately 126,169 shares traded hands during mid-day trading, an increase of 93% from the previous session’s volume of 65,325 shares.The stock last traded at $10.40 and had previously closed at $10.61.

Hagerty Price Performance

The firm has a market capitalization of $3.52 billion, a PE ratio of 174.03 and a beta of 0.78. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a 50-day simple moving average of $9.32 and a 200-day simple moving average of $8.71.

Hagerty (NYSE:HGTY) last announced its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The business had revenue of $271.71 million for the quarter, compared to analysts’ expectations of $264.32 million. Hagerty had a return on equity of 6.35% and a net margin of 1.82%. As a group, equities analysts forecast that Hagerty, Inc. will post 0.21 earnings per share for the current year.

Insider Transactions at Hagerty

In other news, Director Robert I. Kauffman sold 2,998 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $9.04, for a total value of $27,101.92. Following the transaction, the director now owns 3,429,332 shares of the company’s stock, valued at $31,001,161.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robert I. Kauffman sold 2,848 shares of Hagerty stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $9.08, for a total transaction of $25,859.84. Following the sale, the director now owns 3,447,059 shares of the company’s stock, valued at approximately $31,299,295.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert I. Kauffman sold 2,998 shares of Hagerty stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $9.04, for a total value of $27,101.92. Following the sale, the director now directly owns 3,429,332 shares in the company, valued at approximately $31,001,161.28. The disclosure for this sale can be found here. Insiders have sold 135,538 shares of company stock valued at $1,335,062 over the last quarter. 17.90% of the stock is currently owned by company insiders.

Institutional Trading of Hagerty

Several institutional investors and hedge funds have recently added to or reduced their stakes in HGTY. Confluence Investment Management LLC bought a new stake in Hagerty in the 1st quarter worth approximately $3,473,000. Lincoln Capital LLC increased its stake in Hagerty by 18.0% in the 4th quarter. Lincoln Capital LLC now owns 328,763 shares of the company’s stock worth $2,593,000 after acquiring an additional 50,140 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Hagerty by 34.7% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock worth $806,000 after acquiring an additional 26,600 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Hagerty in the 3rd quarter worth approximately $206,000. Finally, Vanguard Group Inc. increased its stake in Hagerty by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock worth $18,559,000 after acquiring an additional 21,331 shares during the last quarter. Institutional investors own 20.51% of the company’s stock.

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.