Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 12,200 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 12,200 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $10.47, for a total transaction of $127,734.00. Following the completion of the sale, the director now directly owns 2,986,475 shares of the company’s stock, valued at $31,268,393.25. The transaction was disclosed in a filing with the SEC, which is available at this link.

Hagerty Price Performance

Shares of HGTY traded up $0.49 during mid-day trading on Tuesday, reaching $11.02. The stock had a trading volume of 156,604 shares, compared to its average volume of 82,606. The business has a fifty day moving average of $9.46 and a 200 day moving average of $8.78. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.47 and a current ratio of 1.47. The firm 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 12 month low of $7.52 and a 12 month high of $11.04.

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

Hedge Funds Weigh In On Hagerty

Several large investors have recently made changes to their positions in HGTY. Blue Trust Inc. bought a new stake in Hagerty during the 4th quarter valued at approximately $57,000. MeadowBrook Investment Advisors LLC purchased a new stake in Hagerty during the 4th quarter valued at approximately $132,000. Quadrature Capital Ltd purchased a new stake in Hagerty during the 3rd quarter valued at approximately $147,000. Meixler Investment Management Ltd. raised its position in shares of Hagerty by 21.2% during the first quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock valued at $223,000 after buying an additional 4,250 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of Hagerty in the third quarter worth $206,000. 20.51% of the stock is currently 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.