Robert I. Kauffman Sells 3,301 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,301 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $9.62, for a total transaction of $31,755.62. Following the transaction, the director now owns 4,372,659 shares in the company, valued at $42,064,979.58. This trade represents a 0.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hagerty Stock Performance

Shares of Hagerty stock opened at $9.79 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. The stock’s fifty day moving average is $10.49 and its two-hundred day moving average is $10.82. Hagerty, Inc. has a 52 week low of $7.82 and a 52 week high of $12.35. The company has a market capitalization of $3.34 billion, a PE ratio of 89.02 and a beta of 0.86.

Hagerty (NYSE:HGTY) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). Hagerty had a return on equity of 12.06% and a net margin of 5.27%. The company had revenue of $323.37 million during the quarter, compared to the consensus estimate of $318.07 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. As a group, analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Trading of Hagerty

Several institutional investors and hedge funds have recently modified their holdings of HGTY. Meixler Investment Management Ltd. grew its stake in Hagerty by 9.7% in the third quarter. Meixler Investment Management Ltd. now owns 27,455 shares of the company’s stock worth $279,000 after purchasing an additional 2,430 shares in the last quarter. 17 Capital Partners LLC lifted its holdings in shares of Hagerty by 10.0% in the 3rd quarter. 17 Capital Partners LLC now owns 55,000 shares of the company’s stock worth $559,000 after buying an additional 5,000 shares during the period. R Squared Ltd purchased a new stake in shares of Hagerty in the 4th quarter worth $51,000. Barclays PLC grew its position in shares of Hagerty by 23.0% during the 3rd quarter. Barclays PLC now owns 31,675 shares of the company’s stock worth $321,000 after buying an additional 5,932 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Hagerty by 25,769.2% in the third quarter. FMR LLC now owns 6,726 shares of the company’s stock valued at $68,000 after acquiring an additional 6,700 shares in the last quarter. Institutional investors own 20.51% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Raymond James downgraded shares of Hagerty from a “market perform” rating to an “underperform” rating in a report on Thursday, December 26th.

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.