Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 3,036 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,036 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $9.07, for a total value of $27,536.52. Following the completion of the sale, the director now owns 3,421,036 shares in the company, valued at $31,028,796.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Hagerty Trading Down 0.6 %

Shares of NYSE:HGTY opened at $8.76 on Friday. The company has a market cap of $2.94 billion, a PE ratio of 125.14 and a beta of 0.77. The company’s 50 day moving average is $8.80 and its two-hundred day moving average is $8.36. Hagerty, Inc. has a 52 week low of $7.52 and a 52 week high of $10.36. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32.

Hagerty (NYSE:HGTY) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). Hagerty had a return on equity of 4.53% and a net margin of 1.84%. The company had revenue of $245.04 million during the quarter, compared to the consensus estimate of $245.17 million. Equities analysts predict that Hagerty, Inc. will post 0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. assumed coverage on Hagerty in a research report on Thursday, January 11th. They issued a “neutral” rating and a $9.00 price target on the stock.

Institutional Trading of Hagerty

Several institutional investors have recently modified their holdings of the stock. Barclays PLC raised its stake in Hagerty by 227.0% during the 2nd quarter. Barclays PLC now owns 6,474 shares of the company’s stock worth $61,000 after acquiring an additional 4,494 shares in the last quarter. Blue Trust Inc. acquired a new stake in shares of Hagerty in the 4th quarter valued at about $57,000. Commonwealth Equity Services LLC grew its stake in Hagerty by 14.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,944 shares of the company’s stock worth $106,000 after buying an additional 1,650 shares during the last quarter. Corton Capital Inc. purchased a new stake in Hagerty in the third quarter valued at approximately $133,000. Finally, MeadowBrook Investment Advisors LLC purchased a new position in shares of Hagerty during the fourth quarter worth approximately $132,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

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.