Hagerty, Inc. (NYSE:HGTY) Director Sells $107,831.25 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 9,585 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $11.25, for a total transaction of $107,831.25. Following the transaction, the director now owns 5,454,558 shares of the company’s stock, valued at $61,363,777.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Hagerty Price Performance

HGTY stock opened at $11.19 on Monday. The firm has a 50 day simple moving average of $10.05 and a two-hundred day simple moving average of $9.08. The stock has a market cap of $3.77 billion, a PE ratio of 186.50 and a beta of 0.80. Hagerty, Inc. has a one year low of $7.52 and a one year high of $11.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.47 and a quick ratio of 1.47.

Hagerty (NYSE:HGTY) last announced its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $271.71 million during the quarter, compared to analyst estimates of $264.32 million. Hagerty had a net margin of 1.82% and a return on equity of 6.35%. On average, analysts predict that Hagerty, Inc. will post 0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Hagerty

Several institutional investors have recently modified their holdings of the company. Blue Trust Inc. purchased a new stake in Hagerty in the second quarter worth approximately $39,000. Meixler Investment Management Ltd. boosted its stake in shares of Hagerty by 21.2% in the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock valued at $223,000 after purchasing an additional 4,250 shares in the last quarter. Fenimore Asset Management Inc. grew its holdings in shares of Hagerty by 0.8% during the 4th quarter. Fenimore Asset Management Inc. now owns 945,286 shares of the company’s stock valued at $7,373,000 after purchasing an additional 7,600 shares during the last quarter. MeadowBrook Investment Advisors LLC bought a new position in shares of Hagerty during the 4th quarter valued at $132,000. Finally, Vanguard Group Inc. raised its position in Hagerty by 1.1% in 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 currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their target price on Hagerty from $9.50 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th.

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.