Hagerty (NYSE:HGTY) Sets New 1-Year Low Following Insider Selling

Hagerty, Inc. (NYSE:HGTY)’s share price hit a new 52-week low during trading on Tuesday following insider selling activity. The company traded as low as $8.03 and last traded at $8.39, with a volume of 57223 shares traded. The stock had previously closed at $8.41.

Specifically, Director Laurie Harris sold 3,934 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $8.41, for a total value of $33,084.94. Following the completion of the transaction, the director now owns 30,349 shares in the company, valued at $255,235.09. This trade represents a 11.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on HGTY shares. JPMorgan Chase & Co. decreased their price objective on Hagerty from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday. Raymond James lowered shares of Hagerty from a “market perform” rating to an “underperform” rating in a research note on Thursday, December 26th.

Hagerty Price Performance

The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23. The company has a market cap of $2.85 billion, a PE ratio of 76.09 and a beta of 0.88. The firm has a 50 day moving average of $9.57 and a two-hundred day moving average of $10.23.

Institutional Investors Weigh In On Hagerty

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of Hagerty by 25,769.2% in the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock worth $68,000 after purchasing an additional 6,700 shares during the last quarter. Barclays PLC increased its stake in Hagerty by 23.0% during the 3rd quarter. Barclays PLC now owns 31,675 shares of the company’s stock valued at $321,000 after purchasing an additional 5,932 shares in the last quarter. Lincoln Capital LLC raised its holdings in Hagerty by 6.7% in the fourth quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock worth $4,772,000 after buying an additional 31,068 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Hagerty by 188.6% in the fourth quarter. Blue Trust Inc. now owns 30,423 shares of the company’s stock worth $309,000 after buying an additional 19,881 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Hagerty during the fourth quarter valued at approximately $51,000. 20.51% of the stock is owned by institutional investors.

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.