Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 6,355 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 6,355 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $11.79, for a total value of $74,925.45. Following the transaction, the director now directly owns 4,560,989 shares of the company’s stock, valued at approximately $53,774,060.31. This trade represents a 0.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hagerty Stock Performance

NYSE:HGTY traded down $0.03 during mid-day trading on Thursday, reaching $11.45. The company’s stock had a trading volume of 44,755 shares, compared to its average volume of 82,130. The firm’s fifty day moving average price is $10.96 and its two-hundred day moving average price is $10.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23. The stock has a market cap of $3.90 billion, a P/E ratio of 104.36 and a beta of 0.80. Hagerty, Inc. has a 12-month low of $7.68 and a 12-month high of $12.35.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Hagerty by 376.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,143 shares of the company’s stock valued at $988,000 after acquiring an additional 76,740 shares during the period. Goldstone Financial Group LLC bought a new position in shares of Hagerty in the 3rd quarter worth approximately $236,000. Vanguard Group Inc. boosted 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 worth $18,559,000 after buying an additional 21,331 shares during the last quarter. Lakewood Asset Management LLC bought a new stake in Hagerty during the third quarter valued at approximately $186,000. Finally, PDT Partners LLC purchased a new stake in Hagerty during the third quarter valued at approximately $185,000. 20.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Truist Financial lifted their price target on Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th.

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.