Hagerty (NYSE:HGTY) Hits New 1-Year Low on Insider Selling

Hagerty, Inc. (NYSE:HGTY - Get Free Report) reached a new 52-week low during trading on Wednesday following insider selling activity. The stock traded as low as $8.00 and last traded at $9.08, with a volume of 448 shares changing hands. 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 stock was sold at an average price of $9.06, for a total value of $83,080.20. Following the completion of the sale, the director now owns 4,102,715 shares of the company's stock, valued at $37,170,597.90. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert I. Kauffman sold 8,736 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $9.18, for a total value of $80,196.48. Following the transaction, the director now directly owns 4,121,185 shares in the company, valued at approximately $37,832,478.30. This represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. In related news, Director Robert I. Kauffman sold 7,985 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $9.37, for a total value of $74,819.45. Following the completion of the sale, the director now directly owns 4,139,691 shares in the company, valued at approximately $38,788,904.67. The trade was a 0.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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Analyst Upgrades and Downgrades

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

Hagerty Price Performance

The company has a market cap of $2.87 billion, a P/E ratio of 75.96 and a beta of 0.88. The stock has a 50-day simple moving average of $9.65 and a 200 day simple moving average of $10.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01.

Institutional Investors Weigh In On Hagerty

Institutional investors and hedge funds have recently bought and sold shares of the business. 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 valued at $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 boosted its holdings in Hagerty by 7.7% during 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 in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Hagerty in the 4th quarter valued at approximately $84,000. Ancora Advisors LLC acquired a new position in shares of Hagerty in the 4th quarter worth approximately $46,000. Finally, Jane Street Group LLC bought a new position in shares of Hagerty during the 4th quarter worth approximately $230,000. Institutional investors 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.