Hagerty, Inc. (NYSE:HGTY) Director Sells $74,868.30 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 6,318 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $11.85, for a total value of $74,868.30. Following the sale, the director now owns 5,267,317 shares in the company, valued at approximately $62,417,706.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hagerty Price Performance

Shares of HGTY opened at $11.96 on Thursday. The business’s 50-day moving average is $10.95 and its two-hundred day moving average is $9.68. The company has a market capitalization of $4.03 billion, a P/E ratio of 199.33 and a beta of 0.80. Hagerty, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $12.35. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.47 and a current ratio of 1.47.

Hagerty (NYSE:HGTY) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. Hagerty had a return on equity of 6.35% and a net margin of 1.82%. The business had revenue of $313.23 million for the quarter, compared to analyst estimates of $312.64 million. Research analysts predict that Hagerty, Inc. will post 0.23 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new position in Hagerty during the second quarter worth $39,000. Algert Global LLC acquired a new position in shares of Hagerty during the 2nd quarter worth approximately $108,000. MeadowBrook Investment Advisors LLC purchased a new stake in Hagerty in the 4th quarter valued at $132,000. Dimensional Fund Advisors LP purchased a new stake in shares of Hagerty in the second quarter valued at about $139,000. Finally, Meixler Investment Management Ltd. increased its holdings in shares of Hagerty by 21.2% during the 1st 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 last quarter. Hedge funds and other institutional investors own 20.51% of the company’s stock.

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.