Robert I. Kauffman Sells 7,933 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 7,933 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $10.70, for a total value of $84,883.10. Following the completion of the sale, the director now owns 5,094,769 shares of the company’s stock, valued at approximately $54,514,028.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hagerty Stock Performance

NYSE HGTY opened at $10.79 on Friday. The company has a fifty day simple moving average of $11.02 and a 200 day simple moving average of $10.20. Hagerty, Inc. has a 12-month low of $7.52 and a 12-month high of $12.35. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.68 billion, a P/E ratio of 89.92 and a beta of 0.79.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data 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 the consensus estimate of $312.64 million. Hagerty had a net margin of 5.37% and a return on equity of 15.68%. Sell-side analysts predict that Hagerty, Inc. will post 0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new position in Hagerty during the 2nd quarter valued at about $39,000. Algert Global LLC purchased a new stake in Hagerty in the second quarter worth approximately $108,000. Dimensional Fund Advisors LP purchased a new stake in Hagerty in the second quarter worth approximately $139,000. Lakewood Asset Management LLC purchased a new stake in Hagerty in the third quarter worth approximately $186,000. Finally, Meixler Investment Management Ltd. boosted its stake in Hagerty by 21.2% in 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 in the last quarter. 20.51% of the stock is currently owned by institutional investors.

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.