Robert I. Kauffman Sells 5,874 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 5,874 shares of Hagerty stock in a transaction on Monday, September 30th. The shares were sold at an average price of $10.22, for a total value of $60,032.28. Following the completion of the transaction, the director now owns 5,134,664 shares of the company’s stock, valued at approximately $52,476,266.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Hagerty Stock Up 2.1 %

Shares of NYSE:HGTY opened at $10.38 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. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 173.00 and a beta of 0.81. The company has a 50 day moving average of $11.08 and a 200-day moving average of $10.11. Hagerty, Inc. has a one year low of $7.52 and a one year high of $12.35.

Hagerty (NYSE:HGTY) last issued its earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $313.23 million for the quarter, compared to analysts’ expectations 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 earnings per share for the current year.

Institutional Trading of Hagerty

Several hedge funds have recently added to or reduced their stakes in HGTY. Confluence Investment Management LLC acquired a new position in Hagerty in the first quarter valued at about $3,473,000. GABELLI & Co INVESTMENT ADVISERS INC. grew its position in shares of Hagerty by 34.7% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after purchasing an additional 26,600 shares during the period. Blue Trust Inc. acquired a new position in shares of Hagerty in the 2nd quarter valued at approximately $39,000. Vanguard Group Inc. increased its stake in Hagerty by 1.1% during the 1st 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 in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in Hagerty during the 2nd quarter worth approximately $139,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on HGTY shares. Truist Financial upped their target price on shares of 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. upped their price objective on Hagerty from $9.50 to $11.00 and gave the stock a “neutral” rating in a 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.