Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells $49,002.55 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 4,915 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $9.97, for a total transaction of $49,002.55. Following the completion of the transaction, the director now directly owns 4,320,314 shares in the company, valued at $43,073,530.58. This represents a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Hagerty Price Performance

Hagerty stock opened at $10.22 on Friday. The company has a fifty day simple moving average of $10.17 and a 200-day simple moving average of $10.73. 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 $3.49 billion, a price-to-earnings ratio of 92.91 and a beta of 0.85. Hagerty, Inc. has a 52-week low of $8.09 and a 52-week high of $12.35.

Hagerty (NYSE:HGTY) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The business had revenue of $323.37 million during the quarter, compared to analyst estimates of $318.07 million. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. During the same quarter in the previous year, the company posted $0.05 EPS. On average, equities analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Hagerty

Several hedge funds and other institutional investors have recently made changes to their positions in HGTY. R Squared Ltd acquired a new position in Hagerty during the fourth quarter worth $51,000. FMR LLC raised its holdings in shares of Hagerty by 25,769.2% during the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock worth $68,000 after acquiring an additional 6,700 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Hagerty by 35.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock valued at $100,000 after acquiring an additional 2,726 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Hagerty in the second quarter valued at about $108,000. Finally, 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. Institutional investors and hedge funds own 20.51% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Raymond James downgraded Hagerty from a “market perform” rating to an “underperform” rating in a research report on Thursday, December 26th.

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.