Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells $48,003.60 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 4,404 shares of Hagerty stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $10.90, for a total value of $48,003.60. Following the sale, the director now directly owns 5,534,698 shares in the company, valued at approximately $60,328,208.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hagerty Stock Up 1.2 %

HGTY opened at $11.20 on Thursday. The stock’s 50 day moving average price is $9.77 and its 200 day moving average price is $8.92. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market cap of $3.77 billion, a P/E ratio of 186.70 and a beta of 0.80. Hagerty, Inc. has a 12 month low of $7.52 and a 12 month high of $11.23.

Hagerty (NYSE:HGTY) last issued its quarterly earnings data 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. The business had revenue of $271.71 million for the quarter, compared to analysts’ expectations of $264.32 million. Hagerty had a net margin of 1.82% and a return on equity of 6.35%. As a group, research analysts predict that Hagerty, Inc. will post 0.21 earnings per share for the current year.

Institutional Trading of Hagerty

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Hagerty by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock valued at $18,559,000 after buying an additional 21,331 shares during the period. Meixler Investment Management Ltd. increased its position in shares of Hagerty by 21.2% in the first quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after acquiring an additional 4,250 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in Hagerty during the 1st quarter valued at $3,473,000. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in Hagerty by 34.7% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after buying an additional 26,600 shares during the period. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in shares of Hagerty in the fourth quarter worth approximately $132,000. 20.51% of the stock is owned by institutional investors and hedge funds.

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.