Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 5,278 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 5,278 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $9.40, for a total transaction of $49,613.20. Following the completion of the sale, the director now directly owns 4,405,500 shares of the company’s stock, valued at $41,411,700. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hagerty Stock Performance

Shares of HGTY opened at $9.55 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. Hagerty, Inc. has a 12 month low of $7.68 and a 12 month high of $12.35. The company’s fifty day moving average is $10.84 and its 200-day moving average is $10.89. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 86.82 and a beta of 0.86.

Institutional Trading of Hagerty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in Hagerty by 25,769.2% in the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock valued at $68,000 after acquiring an additional 6,700 shares in the last quarter. Algert Global LLC bought a new stake in Hagerty in the second quarter valued at about $108,000. Blue Trust Inc. raised its position in Hagerty by 178.6% in the third quarter. Blue Trust Inc. now owns 10,542 shares of the company’s stock worth $110,000 after purchasing an additional 6,758 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in Hagerty during the second quarter valued at approximately $139,000. Finally, PDT Partners LLC bought a new stake in shares of Hagerty in the 3rd quarter valued at approximately $185,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.