Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 4,453 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 4,453 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $9.72, for a total transaction of $43,283.16. Following the transaction, the director now directly owns 4,335,107 shares in the company, valued at approximately $42,137,240.04. The trade was a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hagerty Stock Down 0.3 %

Shares of HGTY opened at $9.71 on Friday. The stock has a 50 day moving average price of $10.34 and a 200 day moving average price of $10.77. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 88.27 and a beta of 0.86. Hagerty, Inc. has a one year low of $7.87 and a one year high of $12.35.

Hagerty (NYSE:HGTY) last issued its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The business had revenue of $323.37 million during the quarter, compared to analyst estimates of $318.07 million. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. During the same quarter last year, the company earned $0.05 earnings per share. Equities research analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Trading of Hagerty

Hedge funds have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Hagerty by 376.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,143 shares of the company’s stock valued at $988,000 after purchasing an additional 76,740 shares in the last quarter. Barclays PLC boosted its stake in Hagerty by 23.0% during the third quarter. Barclays PLC now owns 31,675 shares of the company’s stock worth $321,000 after buying an additional 5,932 shares during the last quarter. Lincoln Capital LLC grew its holdings in Hagerty by 6.7% in the 4th quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock valued at $4,772,000 after buying an additional 31,068 shares in the last quarter. FMR LLC increased its stake in shares of Hagerty by 25,769.2% in the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock worth $68,000 after acquiring an additional 6,700 shares during the last quarter. Finally, Algert Global LLC purchased a new position in shares of Hagerty during the 2nd quarter worth $108,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Raymond James lowered shares of Hagerty from a “market perform” rating to an “underperform” rating in a research note on Thursday, December 26th.

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.