Hagerty (NYSE: HGTY) has recently experienced several updates from brokerage firms regarding its stock ratings. This comes alongside news that Director Robert I. Kauffman sold a significant number of shares in the company on October 27, 2023.
Kauffman sold 15,270 shares at an average price of $11.12, resulting in a total transaction value of $169,802.40. Following this sale, he retains 898,097 shares of Hagerty, valued at approximately $9,986,838.64. This transaction marks a 1.67% decrease in his holdings. The details of the sale were filed with the Securities and Exchange Commission (SEC), accessible through their official website.
Insider trading activity at Hagerty has been notable over the past three months, with a total of 390,432 shares sold, amounting to $4,642,401. Currently, corporate insiders hold 16.70% of the company’s stock, indicating a significant level of involvement from within the organization.
Hagerty, Inc. operates as an insurance agency providing services on a global scale. The company specializes in insurance products for motor vehicles and boats, along with reinsurance offerings. Furthermore, Hagerty engages the automotive community through its media platform, Hagerty Media, which publishes content via the Hagerty Drivers Club Magazine (HDC), video channels, and social media. The HDC also offers subscription-based products and services tailored for automotive enthusiasts, including magazine subscriptions, events, vehicle valuation tools, roadside assistance, and various vehicle-related discounts.
As the company continues to evolve within the insurance sector, updates from analysts and insider activities are critical indicators of its market performance and future trajectory. Investors and stakeholders are encouraged to stay informed on the latest developments concerning Hagerty and its offerings.
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