Robert I. Kauffman Sells 3,683 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,683 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $10.78, for a total transaction of $39,702.74. Following the sale, the director now directly owns 5,087,939 shares in the company, valued at $54,847,982.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Hagerty Stock Up 0.5 %

HGTY stock opened at $10.79 on Friday. Hagerty, Inc. has a 52 week low of $7.52 and a 52 week high of $12.35. The business has a 50-day simple moving average of $11.02 and a 200 day simple moving average of $10.20. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.68 billion, a PE ratio of 89.92 and a beta of 0.79.

Hagerty (NYSE:HGTY) last issued its earnings results 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 return on equity of 15.68% and a net margin of 5.37%. The firm had revenue of $313.23 million for the quarter, compared to the consensus estimate of $312.64 million. Sell-side analysts anticipate that Hagerty, Inc. will post 0.26 EPS for the current fiscal year.

Institutional Trading of Hagerty

A number of hedge funds have recently made changes to their positions in the company. Confluence Investment Management LLC acquired a new stake in shares of Hagerty in the first quarter valued at about $3,473,000. Blue Trust Inc. bought a new stake in Hagerty in the second quarter valued at approximately $39,000. Vanguard Group Inc. increased its position in Hagerty by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock valued at $18,559,000 after purchasing an additional 21,331 shares during the period. Algert Global LLC bought a new position in Hagerty during the 2nd quarter worth approximately $108,000. Finally, Lakewood Asset Management LLC acquired a new position in shares of Hagerty in the 3rd quarter worth approximately $186,000. 20.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HGTY. 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. JPMorgan Chase & Co. raised their target price on shares of Hagerty from $9.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th.

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.