Robert I. Kauffman Sells 2,481 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 2,481 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $10.75, for a total transaction of $26,670.75. Following the sale, the director now directly owns 5,154,354 shares of the company’s stock, valued at approximately $55,409,305.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Hagerty Trading Down 0.5 %

Shares of HGTY stock traded down $0.05 during trading hours on Wednesday, hitting $10.59. The company had a trading volume of 26,943 shares, compared to its average volume of 82,361. The company’s fifty day moving average is $11.15 and its 200 day moving average is $10.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. Hagerty, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $12.35. The stock has a market capitalization of $3.61 billion, a PE ratio of 177.28 and a beta of 0.81.

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

Institutional Investors Weigh In On Hagerty

Several large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. purchased a new stake in Hagerty during the 2nd quarter worth approximately $39,000. Meixler Investment Management Ltd. increased its stake in Hagerty by 21.2% during the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after buying an additional 4,250 shares during the period. Algert Global LLC purchased a new stake in Hagerty during the 2nd quarter worth approximately $108,000. Dimensional Fund Advisors LP purchased a new stake in Hagerty during the 2nd quarter worth approximately $139,000. Finally, Vanguard Group Inc. increased its stake in 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 buying an additional 21,331 shares during the period. 20.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.