Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells $120,793.96 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 11,428 shares of Hagerty stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $10.57, for a total transaction of $120,793.96. Following the sale, the director now owns 5,353,334 shares in the company, valued at $56,584,740.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Hagerty Stock Down 1.7 %

Shares of NYSE HGTY opened at $10.60 on Monday. Hagerty, Inc. has a 12-month low of $7.52 and a 12-month high of $11.47. The firm’s 50-day simple moving average is $10.63 and its 200 day simple moving average is $9.40. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 176.67 and a beta of 0.80.

Hedge Funds Weigh In On Hagerty

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. bought a new stake in Hagerty during the 2nd quarter worth about $39,000. Dimensional Fund Advisors LP acquired a new stake in shares of Hagerty during the 2nd quarter worth approximately $139,000. MeadowBrook Investment Advisors LLC bought a new stake in shares of Hagerty during the fourth quarter worth approximately $132,000. Meixler Investment Management Ltd. raised its stake in shares of Hagerty by 21.2% during the first quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after buying an additional 4,250 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in Hagerty by 34.7% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after buying an additional 26,600 shares during the period. Institutional investors own 20.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Truist Financial increased their price objective on Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Thursday.

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.