Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 62,342 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 62,342 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $11.21, for a total transaction of $698,853.82. Following the sale, the director now directly owns 4,757,757 shares of the company’s stock, valued at $53,334,455.97. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Hagerty Stock Down 0.6 %

Shares of Hagerty stock traded down $0.07 during midday trading on Friday, hitting $11.44. The company’s stock had a trading volume of 20,323 shares, compared to its average volume of 81,206. Hagerty, Inc. has a 1-year low of $7.68 and a 1-year high of $12.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $3.90 billion, a P/E ratio of 104.18 and a beta of 0.78. The stock has a 50-day simple moving average of $10.82 and a 200-day simple moving average of $10.60.

Wall Street Analyst Weigh In

Separately, Truist Financial upped their price target on shares of Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Thursday, August 8th.

Institutional Investors Weigh In On Hagerty

A number of institutional investors have recently bought and sold shares of the business. Blue Trust Inc. acquired a new position in shares of Hagerty in the 2nd quarter valued at about $39,000. FMR LLC grew its position in Hagerty by 25,769.2% during the third quarter. FMR LLC now owns 6,726 shares of the company’s stock valued at $68,000 after purchasing an additional 6,700 shares in the last quarter. Algert Global LLC purchased a new position in Hagerty during the second quarter valued at approximately $108,000. Dimensional Fund Advisors LP acquired a new position in Hagerty in the 2nd quarter valued at approximately $139,000. Finally, PDT Partners LLC purchased a new stake in Hagerty in the 3rd quarter worth approximately $185,000. 20.51% of the stock is currently owned by institutional investors and hedge funds.

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.