Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 29,352 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 29,352 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $10.30, for a total value of $302,325.60. Following the transaction, the director now directly owns 2,998,675 shares of the company’s stock, valued at approximately $30,886,352.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hagerty Stock Performance

Shares of Hagerty stock opened at $11.04 on Friday. The business has a fifty day simple moving average of $9.59 and a two-hundred day simple moving average of $8.83. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $3.72 billion, a P/E ratio of 184.03 and a beta of 0.80. Hagerty, Inc. has a 12 month low of $7.52 and a 12 month high of $11.10.

Hagerty (NYSE:HGTY) last posted its quarterly 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 firm had revenue of $271.71 million during the quarter, compared to analyst estimates of $264.32 million. Hagerty had a return on equity of 6.35% and a net margin of 1.82%. On average, equities analysts forecast that Hagerty, Inc. will post 0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hagerty

Large investors have recently modified their holdings of the stock. Blue Trust Inc. purchased a new position in shares of Hagerty in the 4th quarter worth about $57,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Hagerty in the 4th quarter worth about $132,000. Quadrature Capital Ltd purchased a new position in shares of Hagerty in the 3rd quarter worth about $147,000. Meixler Investment Management Ltd. raised its position in shares of Hagerty by 21.2% in the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after purchasing an additional 4,250 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Hagerty in the 3rd quarter worth about $206,000. Hedge funds and other 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.