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

Hagerty, Inc. (NYSE:HGTY)’s share price reached a new 52-week low during trading on Wednesday following insider selling activity. The company traded as low as $8.00 and last traded at $9.08, with a volume of 448 shares. The stock had previously closed at $9.04.

Specifically, Director Robert I. Kauffman sold 9,170 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $9.06, for a total value of $83,080.20. Following the completion of the sale, the director now directly owns 4,102,715 shares of the company’s stock, valued at approximately $37,170,597.90. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert I. Kauffman sold 8,736 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $9.18, for a total transaction of $80,196.48. Following the completion of the sale, the director now owns 4,121,185 shares of the company’s stock, valued at approximately $37,832,478.30. This trade represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. In other Hagerty news, Director Robert I. Kauffman sold 7,985 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $9.37, for a total transaction of $74,819.45. Following the transaction, the director now directly owns 4,139,691 shares of the company’s stock, valued at approximately $38,788,904.67. This trade represents a 0.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Analyst Upgrades and Downgrades

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

Hagerty Stock Up 0.4 %

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 82.55 and a beta of 0.84. The firm’s 50-day simple moving average is $9.71 and its two-hundred day simple moving average is $10.33.

Institutional Investors Weigh In On Hagerty

A number of institutional investors and hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its position in Hagerty by 35.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock worth $100,000 after purchasing an additional 2,726 shares in the last quarter. Swiss National Bank boosted its position in shares of Hagerty by 6.0% in the 4th quarter. Swiss National Bank now owns 53,000 shares of the company’s stock worth $511,000 after buying an additional 3,000 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Hagerty in the 4th quarter valued at about $31,000. Garde Capital Inc. increased its holdings in Hagerty by 4.0% during the 4th quarter. Garde Capital Inc. now owns 103,960 shares of the company’s stock valued at $1,003,000 after acquiring an additional 3,960 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Hagerty by 7.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,205 shares of the company’s stock worth $620,000 after acquiring an additional 4,575 shares during the last quarter. Institutional investors and hedge funds 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.