Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells $13,135.12 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 1,453 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $9.04, for a total transaction of $13,135.12. Following the sale, the director now directly owns 4,082,365 shares in the company, valued at $36,904,579.60. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Hagerty Price Performance

Shares of Hagerty stock opened at $9.71 on Friday. The business’s 50-day moving average price is $9.01 and its 200-day moving average price is $9.95. The firm has a market capitalization of $3.31 billion, a PE ratio of 88.27 and a beta of 0.88. Hagerty, Inc. has a 12 month low of $8.03 and a 12 month high of $12.35. 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 (NYSE:HGTY) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. The business had revenue of $319.59 million for the quarter, compared to analysts’ expectations of $299.92 million. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. During the same period last year, the business earned $0.04 earnings per share. Sell-side analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. decreased their price target on shares of Hagerty from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th.

Institutional Trading of Hagerty

Several hedge funds have recently added to or reduced their stakes in HGTY. Pembroke Management LTD bought a new position in shares of Hagerty during the fourth quarter valued at about $9,201,000. Neuberger Berman Group LLC grew its position in Hagerty by 11.4% during the 4th quarter. Neuberger Berman Group LLC now owns 4,725,196 shares of the company’s stock worth $45,598,000 after acquiring an additional 483,324 shares during the last quarter. Garner Asset Management Corp purchased a new position in Hagerty in the 1st quarter worth approximately $2,909,000. Greenhaven Road Investment Management L.P. increased its stake in Hagerty by 10.1% in the 1st quarter. Greenhaven Road Investment Management L.P. now owns 1,360,506 shares of the company’s stock worth $12,299,000 after purchasing an additional 124,336 shares during the period. Finally, Markel Group Inc. lifted its position in Hagerty by 3.6% in the fourth quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock valued at $29,992,000 after purchasing an additional 108,000 shares during the last quarter. 20.51% of the stock is owned by institutional investors.

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.