MeadowBrook Investment Advisors LLC Acquires Shares of 16,920 Hagerty, Inc. (NYSE:HGTY)

MeadowBrook Investment Advisors LLC bought a new position in shares of Hagerty, Inc. (NYSE:HGTY) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 16,920 shares of the company’s stock, valued at approximately $132,000.

A number of other hedge funds also recently modified their holdings of the stock. Blue Trust Inc. acquired a new position in shares of Hagerty during the 4th quarter worth $57,000. Commonwealth Equity Services LLC boosted its stake in shares of Hagerty by 14.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 12,944 shares of the company’s stock valued at $106,000 after purchasing an additional 1,650 shares in the last quarter. Corton Capital Inc. bought a new stake in shares of Hagerty during the 3rd quarter valued at approximately $133,000. Quadrature Capital Ltd acquired a new position in Hagerty during the 3rd quarter worth approximately $147,000. Finally, Meixler Investment Management Ltd. bought a new position in Hagerty in the 3rd quarter valued at approximately $161,000. Institutional investors own 20.51% of the company’s stock.

Hagerty Trading Up 1.9 %

Shares of Hagerty stock traded up $0.17 during trading on Monday, hitting $9.09. The company’s stock had a trading volume of 44,698 shares, compared to its average volume of 52,294. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 128.29 and a beta of 0.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.48 and a quick ratio of 1.48. Hagerty, Inc. has a 52 week low of $7.52 and a 52 week high of $10.01. The stock has a 50-day moving average price of $8.85 and a two-hundred day moving average price of $8.40.

Hagerty (NYSE:HGTY) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $245.04 million during the quarter, compared to analysts’ expectations of $245.17 million. Hagerty had a return on equity of 4.53% and a net margin of 1.84%. Equities research analysts anticipate that Hagerty, Inc. will post 0.19 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert I. Kauffman sold 3,465 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $9.02, for a total transaction of $31,254.30. Following the transaction, the director now directly owns 3,424,072 shares of the company’s stock, valued at $30,885,129.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Hagerty news, Director Robert I. Kauffman sold 3,465 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $9.02, for a total value of $31,254.30. Following the transaction, the director now owns 3,424,072 shares in the company, valued at $30,885,129.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert I. Kauffman sold 3,036 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $9.07, for a total value of $27,536.52. Following the transaction, the director now directly owns 3,421,036 shares in the company, valued at $31,028,796.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,943 shares of company stock valued at $162,121. 17.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. initiated coverage on shares of Hagerty in a report on Thursday, January 11th. They set a “neutral” rating and a $9.00 price target for the company.

Hagerty 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.