Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells $36,412.98 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,693 shares of Hagerty stock in a transaction on Monday, January 27th. The shares were sold at an average price of $9.86, for a total value of $36,412.98. Following the completion of the transaction, the director now owns 4,348,872 shares of the company’s stock, valued at approximately $42,879,877.92. This trade represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Hagerty Trading Down 0.3 %

Shares of Hagerty stock opened at $9.71 on Friday. The business has a 50 day moving average price of $10.37 and a 200 day moving average price of $10.78. 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 $3.31 billion, a P/E ratio of 88.29 and a beta of 0.86. Hagerty, Inc. has a 1 year low of $7.87 and a 1 year high of $12.35.

Hagerty (NYSE:HGTY) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). Hagerty had a return on equity of 12.06% and a net margin of 5.27%. The firm had revenue of $323.37 million for the quarter, compared to analyst estimates of $318.07 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. Sell-side analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Hagerty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meixler Investment Management Ltd. lifted its position in shares of Hagerty by 9.7% during the third quarter. Meixler Investment Management Ltd. now owns 27,455 shares of the company’s stock worth $279,000 after purchasing an additional 2,430 shares during the last quarter. 17 Capital Partners LLC grew its stake in Hagerty by 10.0% in the third quarter. 17 Capital Partners LLC now owns 55,000 shares of the company’s stock worth $559,000 after purchasing an additional 5,000 shares in the last quarter. R Squared Ltd acquired a new position in Hagerty in the fourth quarter worth about $51,000. Barclays PLC grew its stake in Hagerty by 23.0% in the third quarter. Barclays PLC now owns 31,675 shares of the company’s stock worth $321,000 after purchasing an additional 5,932 shares in the last quarter. Finally, FMR LLC grew its stake in Hagerty by 25,769.2% in the third quarter. FMR LLC now owns 6,726 shares of the company’s stock worth $68,000 after purchasing an additional 6,700 shares in the last quarter. 20.51% of the stock is owned by hedge funds and other 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.