Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 4,431 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 4,431 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $10.46, for a total transaction of $46,348.26. Following the sale, the director now owns 5,108,221 shares in the company, valued at $53,431,991.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Hagerty Stock Performance

Hagerty stock opened at $10.52 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. Hagerty, Inc. has a 1-year low of $7.52 and a 1-year high of $12.35. The firm has a market capitalization of $3.54 billion, a P/E ratio of 175.33 and a beta of 0.79. The company’s 50-day moving average is $11.03 and its 200 day moving average is $10.17.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. Hagerty had a net margin of 5.37% and a return on equity of 15.68%. The company had revenue of $313.23 million for the quarter, compared to analyst estimates of $312.64 million. Research analysts forecast that Hagerty, Inc. will post 0.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. upped their target price on shares of Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th.

Institutional Trading of Hagerty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HGTY. Confluence Investment Management LLC purchased a new stake in Hagerty in the 1st quarter worth about $3,473,000. Meixler Investment Management Ltd. increased its position in shares of Hagerty by 21.2% during the first quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after acquiring an additional 4,250 shares during the period. Vanguard Group Inc. increased its position in shares of Hagerty by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock worth $18,559,000 after acquiring an additional 21,331 shares during the period. Blue Trust Inc. purchased a new position in shares of Hagerty during the second quarter worth approximately $39,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Hagerty during the second quarter worth approximately $139,000. 20.51% of the stock is owned by hedge funds and other institutional investors.

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.