Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells $32,588.80 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,040 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $10.72, for a total value of $32,588.80. Following the transaction, the director now owns 5,080,626 shares in the company, valued at $54,464,310.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hagerty Stock Performance

NYSE:HGTY opened at $10.66 on Friday. The company has a fifty day simple moving average of $11.02 and a two-hundred day simple moving average of $10.24. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 177.67 and a beta of 0.79. 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 52 week low of $7.52 and a 52 week high of $12.35.

Hagerty (NYSE:HGTY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.03. Hagerty had a return on equity of 15.68% and a net margin of 5.37%. The company had revenue of $313.23 million for the quarter, compared to the consensus estimate of $312.64 million. As a group, equities analysts anticipate that Hagerty, Inc. will post 0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of Hagerty

Several hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Hagerty by 178.6% during the 3rd quarter. Blue Trust Inc. now owns 10,542 shares of the company’s stock worth $110,000 after purchasing an additional 6,758 shares during the last quarter. Lakewood Asset Management LLC acquired a new position in shares of Hagerty during the 3rd quarter worth about $186,000. Algert Global LLC acquired a new position in shares of Hagerty during the 2nd quarter worth about $108,000. Dimensional Fund Advisors LP acquired a new position in shares of Hagerty during the 2nd quarter worth about $139,000. Finally, Vanguard Group Inc. boosted its position in shares of Hagerty by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock worth $18,559,000 after acquiring an additional 21,331 shares in the last quarter. Institutional investors and hedge funds own 20.51% of the company’s stock.

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.