Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells $50,209.92 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 4,548 shares of Hagerty stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $11.04, for a total transaction of $50,209.92. Following the completion of the transaction, the director now directly owns 5,539,102 shares of the company’s stock, valued at approximately $61,151,686.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Hagerty Stock Performance

Shares of HGTY opened at $11.41 on Friday. The firm has a 50-day moving average of $9.81 and a 200-day moving average of $8.93. Hagerty, Inc. has a one year low of $7.52 and a one year high of $11.47. The company has a market cap of $3.84 billion, a PE ratio of 190.20 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, topping analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $271.71 million during the quarter, compared to analysts’ expectations of $264.32 million. Hagerty had a net margin of 1.82% and a return on equity of 6.35%. As a group, equities analysts forecast that Hagerty, Inc. will post 0.21 earnings per share for the current year.

Institutional Trading of Hagerty

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. acquired a new stake in shares of Hagerty during the 4th quarter worth about $57,000. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Hagerty during the 4th quarter worth about $132,000. Quadrature Capital Ltd acquired a new stake in shares of Hagerty during the 3rd quarter worth about $147,000. Hsbc Holdings PLC acquired a new stake in Hagerty in the 3rd quarter worth about $206,000. Finally, Meixler Investment Management Ltd. raised its stake in 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 in the last quarter. Institutional investors and hedge funds own 20.51% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their price objective on shares of Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday.

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.