Robert I. Kauffman Sells 5,874 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 5,874 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $10.22, for a total value of $60,032.28. Following the completion of the sale, the director now directly owns 5,134,664 shares of the company’s stock, valued at $52,476,266.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Hagerty Trading Down 2.4 %

Shares of HGTY stock traded down $0.25 on Monday, reaching $10.17. 64,990 shares of the company’s stock were exchanged, compared to its average volume of 81,908. Hagerty, Inc. has a 52 week low of $7.52 and a 52 week 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 stock has a market capitalization of $3.42 billion, a PE ratio of 173.67 and a beta of 0.81. The company’s fifty day simple moving average is $11.12 and its 200 day simple moving average is $10.09.

Hagerty (NYSE:HGTY) last issued 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. Hagerty had a return on equity of 15.68% and a net margin of 5.37%. The firm had revenue of $313.23 million during the quarter, compared to analyst estimates of $312.64 million. As a group, analysts forecast that Hagerty, Inc. will post 0.26 EPS for the current year.

Analyst Upgrades and Downgrades

HGTY has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Truist Financial raised their price objective on Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Thursday, August 8th.

Institutional Investors Weigh In On Hagerty

A number of institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. bought a new stake in shares of Hagerty during the 2nd quarter worth approximately $39,000. Meixler Investment Management Ltd. increased its holdings 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 purchasing an additional 4,250 shares during the period. Algert Global LLC purchased a new position in Hagerty during the 2nd quarter worth $108,000. Dimensional Fund Advisors LP purchased a new position in Hagerty during the 2nd quarter worth $139,000. Finally, Vanguard Group Inc. increased its holdings 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 purchasing an additional 21,331 shares during the period. 20.51% of the stock is owned by institutional investors.

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.