Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells $40,616.93 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 4,183 shares of Hagerty stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $9.71, for a total value of $40,616.93. Following the completion of the sale, the director now directly owns 4,037,252 shares in the company, valued at approximately $39,201,716.92. The trade was a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hagerty Stock Up 1.0%

Shares of NYSE:HGTY opened at $9.80 on Monday. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 89.09 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. The company has a 50-day moving average price of $9.01 and a 200 day moving average price of $9.94.

Hagerty (NYSE:HGTY) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 earnings per share (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 the consensus estimate of $299.92 million. Hagerty had a return on equity of 12.06% and a net margin of 5.27%. During the same period in the prior year, the business posted $0.04 earnings per share. As a group, equities research analysts predict that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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 research note on Tuesday, April 8th.

Institutional Trading of Hagerty

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Hagerty during the first quarter worth $93,000. Garner Asset Management Corp purchased a new stake in shares of Hagerty in the first quarter worth approximately $2,909,000. Greenhaven Road Investment Management L.P. lifted its position in shares of Hagerty by 10.1% during the first 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 last quarter. Garde Capital Inc. lifted its holdings in Hagerty by 4.0% during the 4th quarter. Garde Capital Inc. now owns 103,960 shares of the company’s stock valued at $1,003,000 after buying an additional 3,960 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Hagerty by 7.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,205 shares of the company’s stock valued at $620,000 after acquiring an additional 4,575 shares in the last quarter. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Hagerty Company Profile

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.