Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells $31,755.62 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,301 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $9.62, for a total transaction of $31,755.62. Following the completion of the transaction, the director now directly owns 4,372,659 shares of the company’s stock, valued at $42,064,979.58. This represents a 0.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Hagerty Price Performance

HGTY stock opened at $9.79 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. The company’s fifty day moving average price is $10.49 and its 200-day moving average price is $10.82. Hagerty, Inc. has a one year low of $7.82 and a one year high of $12.35. The company has a market capitalization of $3.34 billion, a PE ratio of 89.02 and a beta of 0.86.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Hagerty

Several institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Hagerty by 376.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,143 shares of the company’s stock valued at $988,000 after purchasing an additional 76,740 shares in the last quarter. Barclays PLC grew its stake in shares of Hagerty by 23.0% in the 3rd quarter. Barclays PLC now owns 31,675 shares of the company’s stock worth $321,000 after buying an additional 5,932 shares in the last quarter. Lincoln Capital LLC increased its holdings in shares of Hagerty by 6.7% in the 4th 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. FMR LLC raised its position in shares of Hagerty by 25,769.2% during the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock valued at $68,000 after buying an additional 6,700 shares in the last quarter. Finally, Algert Global LLC bought a new position in shares of Hagerty in the 2nd quarter valued at about $108,000. Hedge funds and other 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.