Hagerty (NYSE:HGTY) Sets New 12-Month Low on Insider Selling

Hagerty, Inc. (NYSE:HGTY) hit a new 52-week low on Wednesday following insider selling activity. The company traded as low as $8.00 and last traded at $9.08, with a volume of 448 shares. The stock had previously closed at $9.04.

Specifically, Director Robert I. Kauffman sold 9,170 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $9.06, for a total transaction of $83,080.20. Following the sale, the director now directly owns 4,102,715 shares in the company, valued at $37,170,597.90. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert I. Kauffman sold 8,736 shares of Hagerty stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $9.18, for a total transaction of $80,196.48. Following the completion of the transaction, the director now owns 4,121,185 shares of the company’s stock, valued at $37,832,478.30. This trade represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. In other Hagerty news, Director Robert I. Kauffman sold 7,985 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $9.37, for a total value of $74,819.45. Following the completion of the transaction, the director now owns 4,139,691 shares of the company’s stock, valued at $38,788,904.67. This trade represents a 0.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Analyst Ratings Changes

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

Hagerty Stock Down 1.0 %

The business’s 50 day moving average is $9.70 and its 200-day moving average is $10.32. 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 company has a market cap of $3.07 billion, a PE ratio of 81.73 and a beta of 0.84.

Hedge Funds Weigh In On Hagerty

Institutional investors and hedge funds have recently modified their holdings of the company. Garde Capital Inc. boosted its position in shares of Hagerty by 4.0% during the 4th quarter. Garde Capital Inc. now owns 103,960 shares of the company’s stock worth $1,003,000 after acquiring an additional 3,960 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Hagerty by 7.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,205 shares of the company’s stock valued at $620,000 after purchasing an additional 4,575 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Hagerty during the fourth quarter worth approximately $84,000. Ancora Advisors LLC acquired a new position in shares of Hagerty in the 4th quarter valued at $46,000. Finally, Jane Street Group LLC purchased a new position in shares of Hagerty in the 4th quarter valued at $230,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

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.