Hagerty (NYSE:HGTY) Reaches New 1-Year Low on Insider Selling

Shares of Hagerty, Inc. (NYSE:HGTY) hit a new 52-week low during trading on Tuesday following insider selling activity. The company traded as low as $8.03 and last traded at $8.39, with a volume of 57223 shares traded. The stock had previously closed at $8.41.

Specifically, Director Laurie Harris sold 3,934 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $8.41, for a total value of $33,084.94. Following the completion of the sale, the director now directly owns 30,349 shares in the company, valued at approximately $255,235.09. The trade was a 11.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analysts Set New Price Targets

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

Hagerty Price Performance

The business’s 50 day simple moving average is $9.62 and its 200-day simple moving average is $10.26. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 76.27 and a beta of 0.88. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01.

Institutional Trading of Hagerty

Several large investors have recently added to or reduced their stakes in HGTY. KLP Kapitalforvaltning AS acquired a new position in shares of Hagerty during the fourth quarter valued at $31,000. Ancora Advisors LLC acquired a new stake in Hagerty in the fourth quarter worth about $46,000. R Squared Ltd bought a new position in Hagerty in the 4th quarter valued at about $51,000. FMR LLC increased its stake in Hagerty by 25,769.2% during the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock valued at $68,000 after buying an additional 6,700 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in shares of Hagerty during the 4th quarter worth about $84,000. 20.51% of the stock is currently 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.