Hagerty (NYSE:HGTY) Reaches New 12-Month Low After Insider Selling

Hagerty, Inc. (NYSE:HGTY - Get Free Report)'s stock price hit a new 52-week low 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 traded. The stock had previously closed at $8.41.

Specifically, Director Laurie Harris sold 3,934 shares of the company's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $8.41, for a total transaction of $33,084.94. Following the sale, the director now owns 30,349 shares in the company, valued at $255,235.09. This represents a 11.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on HGTY shares. Raymond James downgraded Hagerty from a "market perform" rating to an "underperform" rating in a research report on Thursday, December 26th. JPMorgan Chase & Co. decreased their price target on shares of Hagerty from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th.

Hagerty Stock Performance

The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 78.19 and a beta of 0.88. 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 stock has a 50 day simple moving average of $9.48 and a two-hundred day simple moving average of $10.17.

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Institutional Investors Weigh In On Hagerty

Several institutional investors have recently added to or reduced their stakes in HGTY. Steward Partners Investment Advisory LLC raised its holdings 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 purchasing an additional 2,726 shares in the last quarter. Swiss National Bank boosted its stake in Hagerty by 6.0% in the fourth quarter. Swiss National Bank now owns 53,000 shares of the company's stock valued at $511,000 after acquiring an additional 3,000 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Hagerty in the fourth quarter valued at $31,000. Garde Capital Inc. grew its holdings in shares of Hagerty by 4.0% during the fourth quarter. Garde Capital Inc. now owns 103,960 shares of the company's stock worth $1,003,000 after purchasing an additional 3,960 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 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 worth $620,000 after purchasing an additional 4,575 shares in the last quarter. Hedge funds and other 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.