Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 3,821 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,821 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $11.20, for a total transaction of $42,795.20. Following the completion of the sale, the director now directly owns 5,164,557 shares of the company’s stock, valued at approximately $57,843,038.40. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Hagerty Price Performance

HGTY stock opened at $10.62 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. Hagerty, Inc. has a 1 year low of $7.52 and a 1 year high of $12.35. The firm has a 50-day moving average of $11.18 and a 200 day moving average of $10.00. The company has a market cap of $3.58 billion, a P/E ratio of 177.00 and a beta of 0.81.

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

Institutional Trading of Hagerty

A number of institutional investors have recently made changes to their positions in HGTY. Vanguard Group Inc. boosted its holdings in Hagerty by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock worth $18,559,000 after purchasing an additional 21,331 shares during the last quarter. Confluence Investment Management LLC bought a new stake in shares of Hagerty in the first quarter worth $3,473,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its position in Hagerty by 34.7% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after acquiring an additional 26,600 shares during the last quarter. Meixler Investment Management Ltd. lifted its holdings in Hagerty by 21.2% in the first quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock valued at $223,000 after acquiring an additional 4,250 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in Hagerty in the second quarter worth about $139,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HGTY shares. Truist Financial lifted their price objective on Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective 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.

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.