Hagerty (NYSE:HGTY) Hits New 52-Week Low After Insider Selling

Shares of Hagerty, Inc. (NYSE:HGTY) hit a new 52-week low during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $8.00 and last traded at $9.08, with a volume of 448 shares changing hands. The stock had previously closed at $9.04.

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

Wall Street Analysts Forecast Growth

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

Hagerty Trading Up 0.4 %

The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 82.55 and a beta of 0.84. 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’s 50 day simple moving average is $9.71 and its 200 day simple moving average is $10.33.

Institutional Investors Weigh In On Hagerty

Several large investors have recently bought and sold shares of HGTY. Markel Group Inc. grew its position in shares of Hagerty by 3.6% during the fourth quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock worth $29,992,000 after buying an additional 108,000 shares in the last quarter. Lincoln Capital LLC raised 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 valued at $4,772,000 after purchasing an additional 31,068 shares in the last quarter. Barclays PLC lifted its position in shares of Hagerty by 23.0% during the 3rd quarter. Barclays PLC now owns 31,675 shares of the company’s stock worth $321,000 after purchasing an additional 5,932 shares during the last quarter. Pembroke Management LTD acquired a new position in shares of Hagerty during the fourth quarter worth $9,201,000. Finally, Steward Partners Investment Advisory LLC raised its stake in Hagerty by 35.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock valued at $100,000 after buying an additional 2,726 shares in the last quarter. 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.