Hagerty, Inc. (NYSE:HGTY) Director Sells $29,750.64 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,291 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $9.04, for a total value of $29,750.64. Following the completion of the sale, the director now owns 3,415,676 shares of the company’s stock, valued at $30,877,711.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Hagerty Stock Up 0.5 %

Shares of Hagerty stock opened at $9.29 on Friday. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 132.71 and a beta of 0.77. Hagerty, Inc. has a twelve month low of $7.52 and a twelve month high of $10.01. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. The business’s 50 day simple moving average is $8.89 and its 200-day simple moving average is $8.43.

Hagerty (NYSE:HGTY) last posted its earnings results on Tuesday, March 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). Hagerty had a return on equity of 4.53% and a net margin of 1.84%. The company had revenue of $245.04 million for the quarter, compared to analysts’ expectations of $245.17 million. Equities research analysts forecast that Hagerty, Inc. will post 0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. initiated coverage on shares of Hagerty in a research note on Thursday, January 11th. They set a “neutral” rating and a $9.00 target price for the company.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. bought a new stake in shares of Hagerty during the fourth quarter valued at approximately $57,000. Commonwealth Equity Services LLC boosted its position in Hagerty by 14.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,944 shares of the company’s stock worth $106,000 after acquiring an additional 1,650 shares during the period. MeadowBrook Investment Advisors LLC bought a new position in shares of Hagerty in the fourth quarter worth $132,000. Corton Capital Inc. acquired a new position in shares of Hagerty during the third quarter valued at $133,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Hagerty during the third quarter valued at about $147,000. 20.51% of the stock is owned by institutional investors and hedge funds.

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.