Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 2,848 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 2,848 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $9.08, for a total transaction of $25,859.84. Following the transaction, the director now owns 3,447,059 shares in the company, valued at approximately $31,299,295.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Hagerty Stock Performance

Shares of NYSE HGTY traded down $0.03 during midday trading on Thursday, hitting $9.15. 62,019 shares of the company’s stock traded hands, compared to its average volume of 56,813. Hagerty, Inc. has a 1 year low of $7.52 and a 1 year high of $10.36. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 131.57 and a beta of 0.76. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a fifty day moving average of $8.46 and a 200 day moving average of $8.26.

Hedge Funds Weigh In On Hagerty

Several large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new position in shares of Hagerty during the third quarter worth $206,000. Quadrature Capital Ltd bought a new position in Hagerty during the third quarter valued at $147,000. Barclays PLC increased its position in Hagerty by 314.2% during the third quarter. Barclays PLC now owns 26,815 shares of the company’s stock valued at $219,000 after acquiring an additional 20,341 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Hagerty by 14.6% during the third quarter. Commonwealth Equity Services LLC now owns 12,944 shares of the company’s stock valued at $106,000 after acquiring an additional 1,650 shares during the last quarter. Finally, Meixler Investment Management Ltd. bought a new position in Hagerty during the third quarter valued at $161,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. initiated coverage on shares of Hagerty in a research report on Thursday, January 11th. They set a “neutral” rating and a $9.00 price target for the company.

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.