Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells $80,360.25 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 8,175 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.83, for a total value of $80,360.25. Following the sale, the director now directly owns 4,429,302 shares of the company’s stock, valued at approximately $43,540,038.66. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hagerty Stock Up 0.7 %

HGTY stock opened at $9.55 on Thursday. 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 firm has a market capitalization of $3.26 billion, a P/E ratio of 86.82 and a beta of 0.86. Hagerty, Inc. has a 52-week low of $7.68 and a 52-week high of $12.35. The company’s 50 day simple moving average is $10.87 and its 200-day simple moving average is $10.90.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Hagerty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Hagerty by 376.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,143 shares of the company’s stock worth $988,000 after buying an additional 76,740 shares during the period. Barclays PLC lifted its stake in Hagerty by 23.0% in the 3rd quarter. Barclays PLC now owns 31,675 shares of the company’s stock worth $321,000 after acquiring an additional 5,932 shares in the last quarter. FMR LLC lifted 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 acquiring an additional 6,700 shares in the last quarter. Algert Global LLC acquired a new stake in Hagerty during the 2nd quarter worth about $108,000. Finally, Dimensional Fund Advisors LP purchased a new position in Hagerty during the 2nd quarter valued at about $139,000. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

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.