Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 1,732 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 1,732 shares of Hagerty stock in a transaction on Monday, October 14th. The shares were sold at an average price of $10.78, for a total transaction of $18,670.96. Following the sale, the director now directly owns 5,086,207 shares of the company’s stock, valued at $54,829,311.46. This trade represents a 0.00 % decrease in their position. 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 HGTY opened at $10.66 on Friday. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 177.67 and a beta of 0.79. Hagerty, Inc. has a 12 month low of $7.52 and a 12 month high of $12.35. The company’s fifty day moving average is $11.02 and its 200-day moving average is $10.24. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22.

Hagerty (NYSE:HGTY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Hagerty had a return on equity of 15.68% and a net margin of 5.37%. The business had revenue of $313.23 million for the quarter, compared to analyst estimates of $312.64 million. Equities analysts expect that Hagerty, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Truist Financial lifted their price objective on Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, July 11th.

Institutional Trading of Hagerty

Several large investors have recently modified their holdings of HGTY. Blue Trust Inc. raised its holdings in Hagerty by 178.6% in the 3rd quarter. Blue Trust Inc. now owns 10,542 shares of the company’s stock worth $110,000 after acquiring an additional 6,758 shares during the period. Lakewood Asset Management LLC acquired a new stake in shares of Hagerty in the third quarter valued at about $186,000. Algert Global LLC acquired a new position in shares of Hagerty during the 2nd quarter worth about $108,000. Dimensional Fund Advisors LP bought a new stake in Hagerty during the 2nd quarter valued at approximately $139,000. Finally, Vanguard Group Inc. boosted its stake in Hagerty by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock valued at $18,559,000 after purchasing an additional 21,331 shares during the period. 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.