Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 67,590 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 67,590 shares of Hagerty stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $11.17, for a total transaction of $754,980.30. Following the transaction, the director now owns 4,832,126 shares of the company’s stock, valued at $53,974,847.42. This represents a 1.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hagerty Stock Performance

Shares of HGTY traded down $0.07 during mid-day trading on Friday, hitting $11.44. The stock had a trading volume of 20,323 shares, compared to its average volume of 81,206. Hagerty, Inc. has a 52 week low of $7.68 and a 52 week high of $12.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. The business has a fifty day moving average price of $10.82 and a 200-day moving average price of $10.60. The firm has a market cap of $3.90 billion, a P/E ratio of 104.18 and a beta of 0.78.

Analyst Upgrades and Downgrades

Separately, Truist Financial lifted their target price on Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Thursday, August 8th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Blue Trust Inc. purchased a new position in Hagerty in the second quarter worth $39,000. FMR LLC increased its stake in Hagerty by 25,769.2% in the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock worth $68,000 after purchasing an additional 6,700 shares during the period. Algert Global LLC bought a new stake in Hagerty during the 2nd quarter valued at $108,000. Dimensional Fund Advisors LP purchased a new stake in shares of Hagerty during the second quarter worth about $139,000. Finally, PDT Partners LLC purchased a new stake in Hagerty in the 3rd quarter worth approximately $185,000. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

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.