Hagerty (NYSE:HGTY) Sees Strong Trading Volume

Hagerty, Inc. (NYSE:HGTY) saw unusually-strong trading volume on Tuesday . Approximately 126,169 shares were traded during trading, an increase of 93% from the previous session’s volume of 65,325 shares.The stock last traded at $10.40 and had previously closed at $10.61.

Hagerty Trading Down 8.8 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.47 and a current ratio of 1.47. The company has a 50 day simple moving average of $9.36 and a two-hundred day simple moving average of $8.73. The firm has a market cap of $3.20 billion, a PE ratio of 158.53 and a beta of 0.78.

Hagerty (NYSE:HGTY) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. Hagerty had a return on equity of 6.35% and a net margin of 1.82%. The business had revenue of $271.71 million for the quarter, compared to the consensus estimate of $264.32 million. Analysts expect that Hagerty, Inc. will post 0.21 EPS for the current fiscal year.

Insider Transactions at Hagerty

In other news, Director Robert I. Kauffman sold 2,998 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $9.04, for a total value of $27,101.92. Following the sale, the director now owns 3,429,332 shares in the company, valued at $31,001,161.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robert I. Kauffman sold 2,998 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $9.04, for a total value of $27,101.92. Following the sale, the director now owns 3,429,332 shares in the company, valued at $31,001,161.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert I. Kauffman sold 13,726 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $10.57, for a total value of $145,083.82. Following the completion of the sale, the director now owns 3,162,400 shares in the company, valued at approximately $33,426,568. The disclosure for this sale can be found here. Insiders have sold 132,690 shares of company stock worth $1,309,202 over the last quarter. 17.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hagerty

Large investors have recently bought and sold shares of the business. Blue Trust Inc. acquired a new position in Hagerty in the 4th quarter worth about $57,000. Corton Capital Inc. acquired a new position in Hagerty in the 3rd quarter worth about $133,000. MeadowBrook Investment Advisors LLC acquired a new position in Hagerty in the 4th quarter worth about $132,000. Quadrature Capital Ltd acquired a new position in Hagerty in the 3rd quarter worth about $147,000. Finally, Meixler Investment Management Ltd. raised its holdings in Hagerty by 21.2% in the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after purchasing an additional 4,250 shares during the period. Institutional investors and hedge funds own 20.51% of the company’s stock.

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.