Hagerty (NYSE:HGTY) Shares Gap Up – Should You Buy?

Hagerty, Inc. (NYSE:HGTY)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $9.34, but opened at $10.25. Hagerty shares last traded at $10.68, with a volume of 766,982 shares traded.

Hagerty Stock Performance

The firm has a fifty day simple moving average of $10.08 and a 200-day simple moving average of $9.63. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 52.90 and a beta of 0.90.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. Hagerty had a return on equity of 13.76% and a net margin of 4.88%. The firm had revenue of $368.70 million for the quarter, compared to the consensus estimate of $347.15 million. Analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Insider Activity at Hagerty

In other Hagerty news, Director Robert I. Kauffman sold 4,000 shares of the company’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $10.85, for a total transaction of $43,400.00. Following the completion of the sale, the director owned 3,176,662 shares in the company, valued at approximately $34,466,782.70. The trade was a 0.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 804,139 shares of company stock worth $8,124,538. Insiders own 17.90% of the company’s stock.

Institutional Trading of Hagerty

Institutional investors and hedge funds have recently made changes to their positions in the business. IFP Advisors Inc bought a new stake in shares of Hagerty during the 2nd quarter valued at $30,000. KLP Kapitalforvaltning AS bought a new stake in shares of Hagerty during the 4th quarter valued at $31,000. Ancora Advisors LLC bought a new stake in shares of Hagerty during the 4th quarter valued at $46,000. BNP Paribas Financial Markets bought a new stake in shares of Hagerty during the 4th quarter valued at $84,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Hagerty in the 1st quarter valued at $93,000. 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.