Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 3,821 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,821 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $11.20, for a total value of $42,795.20. Following the completion of the transaction, the director now owns 5,164,557 shares of the company’s stock, valued at approximately $57,843,038.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Hagerty Trading Down 2.8 %

Hagerty stock opened at $10.66 on Friday. 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 business’s fifty day simple moving average is $11.17 and its two-hundred day simple moving average is $10.02. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 177.67 and a beta of 0.81.

Hagerty (NYSE:HGTY) last announced its quarterly 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 company had revenue of $313.23 million for the quarter, compared to analysts’ expectations of $312.64 million. Hagerty had a net margin of 5.37% and a return on equity of 15.68%. As a group, equities analysts predict that Hagerty, Inc. will post 0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hagerty

Several institutional investors and hedge funds have recently made changes to their positions in HGTY. Blue Trust Inc. bought a new position in Hagerty in the 2nd quarter valued at approximately $39,000. Algert Global LLC purchased a new position in shares of Hagerty in the second quarter worth $108,000. Dimensional Fund Advisors LP purchased a new position in shares of Hagerty in the second quarter worth $139,000. Meixler Investment Management Ltd. lifted its holdings in shares of Hagerty by 21.2% during the first quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock valued at $223,000 after purchasing an additional 4,250 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in shares of Hagerty by 34.7% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after buying an additional 26,600 shares during the last quarter. Institutional investors own 20.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HGTY. Truist Financial increased their price target on shares of Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised 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.

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.