Hagerty (NYSE: HGTY) recently experienced notable shifts in analyst ratings, coinciding with insider trading activity. On October 27, 2023, company director Robert I. Kauffman sold 15,270 shares of Hagerty stock at an average price of $11.12, totaling approximately $169,802.40. Following this transaction, Kauffman retained 898,097 shares of the firm, worth around $9,986,838.64. This sale marked a 1.67% reduction in his stake in the company.
The insider sale has drawn attention to Hagerty’s overall trading activity. Over the last three months, insiders have offloaded a total of 390,432 shares, equating to a value of $4,642,401. Notably, corporate insiders currently hold 16.70% of the company’s stock. This level of insider activity suggests a significant engagement from those within the company, which could influence market perceptions.
Hagerty, Inc. operates as a global insurance agency, specializing in motor vehicle and boat insurance, as well as reinsurance products. The company also manages Hagerty Media, which produces content through the Hagerty Drivers Club Magazine and various digital platforms. The Hagerty Drivers Club provides subscription-based services, including automotive events, vehicle valuation tools, roadside assistance, and discounts related to special vehicles.
As the stock market continues to evolve, investors may find it useful to monitor these insider transactions alongside the latest analyst ratings. Interested parties can sign up for updates from MarketBeat.com to receive daily summaries of news and ratings concerning Hagerty Inc. and similar companies. Such insights can help investors make informed decisions in a fluctuating market.
