Hagerty (HGTY) Form 144 Shows Continued Insider Selling Trend
Rhea-AI Filing Summary
Hagerty, Inc. (HGTY) – Form 144 filing overview
Robert I. Kauffman, acting through Aldel LLC, has filed a Form 144 indicating an intent to sell 10,380 common shares of Hagerty, Inc. on or about 18 June 2025 via Merrill Lynch on the NYSE. The shares have an aggregate market value of $100,270, implying a reference price of roughly $9.65 per share. Hagerty reports 90.0 million shares outstanding; the proposed sale therefore represents just 0.01 % of total shares.
Recent trading history
- In the preceding three months, the same insider executed approximately 406,545 shares in open-market sales, generating gross proceeds of about $3.9 million.
- The cumulative disposals equal roughly 0.45 % of outstanding shares, signalling a consistent reduction in the holder’s position since mid-March 2025.
Key takeaways for investors
- The filing is routine compliance under Rule 144, but the pattern of steady insider sales may be interpreted as a bearish sentiment signal.
- Because volumes are small relative to total float, immediate market-price impact is likely limited; nevertheless, persistent insider selling can weigh on investor confidence.
- The filer attests to possessing no undisclosed material adverse information, satisfying Rule 144 representations.
Positive
- Compliance transparency: Sale conducted under Rule 144 with full disclosure, reducing regulatory risk.
- Minimal dilution/float impact: Proposed 10,380-share sale equals only 0.01 % of outstanding shares.
Negative
- Continued insider selling trend: Approximately 406k shares sold in the past three months suggests decreasing insider confidence.
- Potential sentiment overhang: Repeated sales can pressure the share price even if volumes are small relative to float.
Insights
TL;DR – Small sale, but continued insider distribution trends negative on sentiment.
While the upcoming 10,380-share sale is immaterial in isolation, Aldel LLC has disposed of more than 400k shares since March 2025. The repeated filings point to an ongoing exit strategy rather than a one-off liquidity event. Although the aggregate sold (<0.5 % of float) is unlikely to disturb trading dynamics, persistent insider sales often correlate with muted near-term price performance as supply overhang increases. No operational data is provided, so the filing does not alter fundamentals; however, sentiment risk edges higher. Rating: modestly negative impact.
FAQ
How many Hagerty (HGTY) shares are being sold under this Form 144?
Who is the selling shareholder in Hagerty’s latest Form 144?
How significant is the proposed sale relative to Hagerty’s share count?
How many shares has the insider sold recently?
Does the filer claim to possess undisclosed negative information?
