Hagerty, Inc. (NYSE:HGTY) Director Sells $754,980.30 in Stock

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

Hagerty Stock Performance

Hagerty stock opened at $11.51 on Friday. The stock has a fifty day moving average price of $10.83 and a 200 day moving average price of $10.63. Hagerty, Inc. has a 52 week low of $7.68 and a 52 week high of $12.35. The firm has a market capitalization of $3.93 billion, a P/E ratio of 104.64 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HGTY. Blue Trust Inc. purchased a new stake in Hagerty in the second quarter valued at approximately $39,000. FMR LLC grew its stake in shares of Hagerty by 25,769.2% during the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock valued at $68,000 after buying an additional 6,700 shares during the period. Algert Global LLC acquired a new stake in shares of Hagerty during the 2nd quarter worth $108,000. Dimensional Fund Advisors LP purchased a new position in shares of Hagerty in the 2nd quarter worth $139,000. Finally, PDT Partners LLC acquired a new position in Hagerty in the third quarter valued at $185,000. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Truist Financial upped their price objective on shares of Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Thursday, August 8th.

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.