Robert I. Kauffman Sells 3,040 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,040 shares of Hagerty stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $10.72, for a total value of $32,588.80. Following the transaction, the director now directly owns 5,080,626 shares of the company’s stock, valued at $54,464,310.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Hagerty Stock Performance

NYSE HGTY remained flat at $10.74 on Wednesday. The company’s stock had a trading volume of 33,790 shares, compared to its average volume of 80,043. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 178.83 and a beta of 0.79. The firm’s 50-day simple moving average is $11.02 and its 200-day simple moving average is $10.23. Hagerty, Inc. has a 1-year low of $7.52 and a 1-year high of $12.35.

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 analysts’ expectations of $312.64 million. Hagerty had a net margin of 5.37% and a return on equity of 15.68%. On average, research analysts forecast that Hagerty, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Hagerty from $9.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Truist Financial lifted their price target on Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th.

Institutional Investors Weigh In On Hagerty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 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 valued at $18,559,000 after purchasing an additional 21,331 shares in the last quarter. Meixler Investment Management Ltd. boosted its position in Hagerty by 21.2% in the first 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 last quarter. Lakewood Asset Management LLC bought a new stake in shares of Hagerty during the 3rd quarter valued at about $186,000. Dimensional Fund Advisors LP purchased a new position in shares of Hagerty in the second quarter worth approximately $139,000. Finally, Algert Global LLC purchased a new stake in shares of Hagerty in the 2nd quarter worth $108,000. 20.51% of the stock is owned by hedge funds and other 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.