Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 1,441 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 1,441 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $10.47, for a total value of $15,087.27. Following the completion of the sale, the director now directly owns 5,062,312 shares of the company’s stock, valued at approximately $53,002,406.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Hagerty Price Performance

Shares of Hagerty stock traded up $0.20 on Thursday, hitting $10.68. The company’s stock had a trading volume of 92,134 shares, compared to its average volume of 79,140. The company has a market capitalization of $3.60 billion, a P/E ratio of 176.17 and a beta of 0.79. Hagerty, Inc. has a 52-week low of $7.52 and a 52-week high of $12.35. The firm has a fifty day moving average price of $11.02 and a 200-day moving average price of $10.29. 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 (NYSE:HGTY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. The company 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%. On average, equities research analysts expect that Hagerty, Inc. will post 0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. purchased a new stake in Hagerty in the 2nd quarter worth approximately $39,000. Algert Global LLC purchased a new stake in shares of Hagerty in the second quarter valued at $108,000. Dimensional Fund Advisors LP acquired a new position in Hagerty in the second quarter valued at $139,000. Lakewood Asset Management LLC acquired a new stake in Hagerty in the 3rd quarter worth about $186,000. Finally, Meixler Investment Management Ltd. grew its holdings in Hagerty by 21.2% in the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock valued at $223,000 after buying an additional 4,250 shares during the period. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HGTY. Truist Financial raised their price objective on shares of 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. boosted their price target on 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.