Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells $57,822.80 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 5,404 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $10.70, for a total value of $57,822.80. Following the completion of the sale, the director now owns 5,156,835 shares of the company’s stock, valued at approximately $55,178,134.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hagerty Stock Performance

HGTY opened at $10.66 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. The firm has a market cap of $3.59 billion, a PE ratio of 177.67 and a beta of 0.81. The business has a fifty day simple moving average of $11.17 and a 200-day simple moving average of $10.03. Hagerty, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $12.35.

Hagerty (NYSE:HGTY) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $313.23 million during the quarter, compared to analyst estimates of $312.64 million. Hagerty had a return on equity of 15.68% and a net margin of 5.37%. As a group, equities analysts predict that Hagerty, Inc. will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in shares of Hagerty by 34.7% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after buying an additional 26,600 shares in the last quarter. Confluence Investment Management LLC acquired a new position in shares of Hagerty in the 1st quarter valued at about $3,473,000. Meixler Investment Management Ltd. increased its holdings in shares of Hagerty by 21.2% in the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock valued at $223,000 after purchasing an additional 4,250 shares during the period. Vanguard Group Inc. lifted its position in shares of Hagerty by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock worth $18,559,000 after purchasing an additional 21,331 shares in the last quarter. Finally, Blue Trust Inc. acquired a new stake in shares of Hagerty during the second quarter worth approximately $39,000. 20.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Hagerty from $9.50 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Truist Financial boosted their target price on shares of Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Thursday, August 8th.

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.