Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 29,352 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 29,352 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $10.30, for a total transaction of $302,325.60. Following the sale, the director now owns 2,998,675 shares in the company, valued at $30,886,352.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hagerty Stock Up 4.7 %

Hagerty stock traded up $0.49 during mid-day trading on Tuesday, hitting $11.02. The company had a trading volume of 156,604 shares, compared to its average volume of 82,606. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 183.53 and a beta of 0.80. Hagerty, Inc. has a 1 year low of $7.52 and a 1 year high of $11.04. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average of $9.46 and a 200 day moving average of $8.78.

Hagerty (NYSE:HGTY) last posted its earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Hagerty had a return on equity of 6.35% and a net margin of 1.82%. The business had revenue of $271.71 million for the quarter, compared to analysts’ expectations of $264.32 million. On average, sell-side analysts expect that Hagerty, Inc. will post 0.21 earnings per share for the current fiscal year.

Institutional Trading of Hagerty

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Confluence Investment Management LLC acquired a new position in Hagerty in the 1st quarter valued at about $3,473,000. Hsbc Holdings PLC acquired a new position in Hagerty in the 3rd quarter valued at about $206,000. Quadrature Capital Ltd acquired a new position in Hagerty in the 3rd quarter valued at about $147,000. MeadowBrook Investment Advisors LLC acquired a new position in Hagerty in the 4th quarter valued at about $132,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. increased its position in Hagerty by 34.7% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after acquiring an additional 26,600 shares during the period. Institutional investors and hedge funds own 20.51% of the company’s stock.

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.