Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 14,507 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 14,507 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $11.84, for a total transaction of $171,762.88. Following the completion of the transaction, the director now directly owns 5,234,306 shares in the company, valued at approximately $61,974,183.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hagerty Stock Performance

Shares of Hagerty stock opened at $11.74 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 195.67 and a beta of 0.80. The business has a 50-day moving average of $11.14 and a 200 day moving average of $9.82. Hagerty, Inc. has a 12 month low of $7.52 and a 12 month high of $12.35.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Hagerty

Several institutional investors have recently modified their holdings of HGTY. Algert Global LLC purchased a new position in Hagerty in the second quarter valued at $108,000. Dimensional Fund Advisors LP acquired a new stake in Hagerty in the 2nd quarter valued at about $139,000. Blue Trust Inc. purchased a new position in shares of Hagerty in the 2nd quarter valued at about $39,000. Vanguard Group Inc. grew 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 buying an additional 21,331 shares in the last quarter. Finally, Meixler Investment Management Ltd. increased its stake 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 buying an additional 4,250 shares during the period. Institutional investors and hedge funds own 20.51% of the company’s stock.

About Hagerty

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.