Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 2,687 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 2,687 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $9.98, for a total transaction of $26,816.26. Following the sale, the director now directly owns 4,449,856 shares in the company, valued at $44,409,562.88. This trade represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Hagerty Stock Down 1.1 %

Hagerty stock traded down $0.11 during trading hours on Thursday, reaching $10.00. The stock had a trading volume of 57,432 shares, compared to its average volume of 81,474. Hagerty, Inc. has a 52 week low of $7.68 and a 52 week high of $12.35. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 90.91 and a beta of 0.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. The business’s 50 day moving average price is $11.04 and its 200-day moving average price is $10.93.

Institutional Trading of Hagerty

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC grew its stake in Hagerty by 25,769.2% during the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock valued at $68,000 after acquiring an additional 6,700 shares in the last quarter. Algert Global LLC purchased a new position in shares of Hagerty during the 2nd quarter worth $108,000. Blue Trust Inc. grew its holdings in shares of Hagerty by 178.6% in the third quarter. Blue Trust Inc. now owns 10,542 shares of the company’s stock valued at $110,000 after purchasing an additional 6,758 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Hagerty during the second quarter worth about $139,000. Finally, PDT Partners LLC purchased a new stake in Hagerty in the 3rd quarter valued at about $185,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James downgraded Hagerty from a “market perform” rating to an “underperform” rating in a research note on Thursday.

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.