Hagerty, Inc. (NYSE:HGTY) Director Sells $36,412.98 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,693 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $9.86, for a total value of $36,412.98. Following the completion of the sale, the director now directly owns 4,348,872 shares of the company’s stock, valued at approximately $42,879,877.92. This represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Hagerty Stock Performance

HGTY stock traded down $0.06 during mid-day trading on Tuesday, reaching $9.80. The company had a trading volume of 28,873 shares, compared to its average volume of 55,134. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. The stock’s 50-day simple moving average is $10.46 and its two-hundred day simple moving average is $10.80. The stock has a market capitalization of $3.34 billion, a P/E ratio of 89.10 and a beta of 0.86. Hagerty, Inc. has a one year low of $7.87 and a one year high of $12.35.

Hagerty (NYSE:HGTY) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). The business had revenue of $323.37 million during the quarter, compared to the consensus estimate of $318.07 million. Hagerty had a return on equity of 12.06% and a net margin of 5.27%. During the same period in the previous year, the company posted $0.05 EPS. Research analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current year.

Institutional Investors Weigh In On Hagerty

A number of institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Hagerty by 376.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,143 shares of the company’s stock valued at $988,000 after purchasing an additional 76,740 shares during the period. Lincoln Capital LLC boosted its stake in Hagerty by 6.7% during the fourth quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock valued at $4,772,000 after buying an additional 31,068 shares in the last quarter. Goldstone Financial Group LLC acquired a new position in Hagerty during the third quarter worth about $236,000. Blue Trust Inc. raised its position in Hagerty by 188.6% in the fourth quarter. Blue Trust Inc. now owns 30,423 shares of the company’s stock worth $309,000 after acquiring an additional 19,881 shares in the last quarter. Finally, Lakewood Asset Management LLC acquired a new stake in Hagerty in the 3rd quarter valued at about $186,000. 20.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.