Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 4,404 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 4,404 shares of Hagerty stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $10.90, for a total transaction of $48,003.60. Following the sale, the director now directly owns 5,534,698 shares of the company’s stock, valued at approximately $60,328,208.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Hagerty Stock Up 1.3 %

Shares of NYSE:HGTY traded up $0.14 during trading hours on Monday, hitting $11.13. The company’s stock had a trading volume of 68,234 shares, compared to its average volume of 82,023. The firm’s fifty day moving average price is $9.68 and its 200 day moving average price is $8.88. Hagerty, Inc. has a 52 week low of $7.52 and a 52 week high of $11.14. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 185.53 and a beta of 0.80. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.47 and a quick ratio of 1.47.

Hagerty (NYSE:HGTY) last posted its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $271.71 million for 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%. As a group, research analysts expect that Hagerty, Inc. will post 0.21 EPS for the current year.

Institutional Trading of Hagerty

A number of institutional investors have recently bought and sold shares of the stock. Meixler Investment Management Ltd. boosted its position in Hagerty by 21.2% during the first quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after acquiring an additional 4,250 shares during the last quarter. Blue Trust Inc. purchased a new position in Hagerty in the 4th quarter valued at approximately $57,000. Fenimore Asset Management Inc. grew its stake in Hagerty by 0.8% during the 4th quarter. Fenimore Asset Management Inc. now owns 945,286 shares of the company’s stock worth $7,373,000 after purchasing an additional 7,600 shares in the last quarter. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Hagerty during the fourth quarter worth approximately $132,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Hagerty in the 3rd quarter valued at $147,000. 20.51% of the stock is currently owned by institutional investors and hedge funds.

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.