Hagerty, Inc. (NYSE:HGTY) Director Sells $39,702.74 in Stock

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

Hagerty Stock Up 0.5 %

HGTY stock opened at $10.79 on Monday. The company’s 50 day moving average is $11.02 and its 200 day moving average is $10.20. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 89.92 and a beta of 0.79. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. Hagerty, Inc. has a 1-year low of $7.52 and a 1-year high of $12.35.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, beating 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 analysts’ expectations of $312.64 million. Sell-side analysts predict that Hagerty, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HGTY. Truist Financial increased their target price on shares of Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. lifted 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.

Institutional Investors Weigh In On Hagerty

A number of large investors have recently added to or reduced their stakes in HGTY. Blue Trust Inc. purchased a new position in shares of Hagerty in the 2nd quarter worth about $39,000. Algert Global LLC bought a new stake in Hagerty in the 2nd quarter worth approximately $108,000. Dimensional Fund Advisors LP purchased a new stake in Hagerty in the second quarter worth approximately $139,000. Lakewood Asset Management LLC bought a new position in Hagerty during the third quarter valued at approximately $186,000. Finally, Meixler Investment Management Ltd. raised its stake in shares of Hagerty by 21.2% during the first quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after acquiring an additional 4,250 shares in the last quarter. Hedge funds and other institutional investors 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.