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

Shares of Hagerty, Inc. (NYSE:HGTY) hit a new 52-week low during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $8.03 and last traded at $8.39, with a volume of 57223 shares changing hands. The stock had previously closed at $8.41.

Specifically, Director Laurie Harris sold 3,934 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $8.41, for a total value of $33,084.94. Following the completion of the transaction, the director now owns 30,349 shares of the company’s stock, valued at $255,235.09. The trade was a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Raymond James lowered shares of Hagerty from a “market perform” rating to an “underperform” rating in a research report on Thursday, December 26th. JPMorgan Chase & Co. decreased their price objective on Hagerty from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday.

Hagerty Stock Performance

The company has a market cap of $2.94 billion, a price-to-earnings ratio of 78.36 and a beta of 0.88. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $9.52 and its 200 day moving average price is $10.20.

Hedge Funds Weigh In On Hagerty

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Markel Group Inc. grew its stake in shares of Hagerty by 3.6% during the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock valued at $29,992,000 after buying an additional 108,000 shares during the period. Lincoln Capital LLC boosted its holdings in Hagerty by 6.7% in the fourth quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock valued at $4,772,000 after acquiring an additional 31,068 shares during the last quarter. Barclays PLC grew its position in Hagerty by 23.0% during the third quarter. Barclays PLC now owns 31,675 shares of the company’s stock valued at $321,000 after acquiring an additional 5,932 shares during the period. Pembroke Management LTD purchased a new stake in Hagerty during the fourth quarter valued at about $9,201,000. Finally, Steward Partners Investment Advisory LLC increased its stake in Hagerty by 35.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock worth $100,000 after acquiring an additional 2,726 shares during the last quarter. 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.