Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 3,913 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,913 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $10.46, for a total transaction of $40,929.98. Following the completion of the sale, the director now owns 5,140,538 shares in the company, valued at approximately $53,770,027.48. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Hagerty Price Performance

Shares of NYSE:HGTY opened at $10.48 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. Hagerty, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $12.35. The firm has a 50-day simple moving average of $11.07 and a 200 day simple moving average of $10.11. The company has a market cap of $3.53 billion, a PE ratio of 174.67 and a beta of 0.81.

Hagerty (NYSE:HGTY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, beating 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 business had revenue of $313.23 million during the quarter, compared to the consensus estimate of $312.64 million. On average, sell-side analysts anticipate that Hagerty, Inc. will post 0.26 EPS for the current year.

Institutional Investors Weigh In On Hagerty

A number of institutional investors have recently modified their holdings of the business. Confluence Investment Management LLC purchased a new stake in shares of Hagerty in the 1st quarter valued at approximately $3,473,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in shares of Hagerty by 34.7% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock worth $806,000 after purchasing an additional 26,600 shares during the last quarter. Blue Trust Inc. acquired a new position in shares of Hagerty during the 2nd quarter worth $39,000. Vanguard Group Inc. grew its stake in Hagerty by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock valued at $18,559,000 after buying an additional 21,331 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in Hagerty in the 2nd quarter valued at $139,000. Institutional investors own 20.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. 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 note on Thursday, July 11th. 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 note on Thursday, August 8th.

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.