Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 14,507 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 14,507 shares of Hagerty stock in a transaction on Friday, August 30th. The stock was sold at an average price of $11.84, for a total transaction of $171,762.88. Following the sale, the director now owns 5,234,306 shares in the company, valued at approximately $61,974,183.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Hagerty Stock Up 0.4 %

Shares of NYSE:HGTY opened at $11.83 on Thursday. Hagerty, Inc. has a 52 week low of $7.52 and a 52 week high of $12.35. 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 company’s fifty day moving average is $11.11 and its 200-day moving average is $9.80. The company has a market capitalization of $3.98 billion, a PE ratio of 197.17 and a beta of 0.80.

Hagerty (NYSE:HGTY) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Hagerty had a return on equity of 15.68% and a net margin of 5.37%. The business had revenue of $313.23 million during the quarter, compared to analysts’ expectations of $312.64 million. Equities research analysts predict that Hagerty, Inc. will post 0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on HGTY. JPMorgan Chase & Co. lifted their price target on shares of Hagerty from $9.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Truist Financial lifted their price target 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.

Institutional Trading of Hagerty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Algert Global LLC bought a new stake in Hagerty during the 2nd quarter worth about $108,000. Dimensional Fund Advisors LP bought a new stake in Hagerty during the 2nd quarter worth about $139,000. Blue Trust Inc. bought a new stake in Hagerty during the 2nd quarter worth about $39,000. Vanguard Group Inc. raised its holdings in Hagerty by 1.1% during 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 last quarter. Finally, Meixler Investment Management Ltd. raised its holdings in Hagerty by 21.2% during the 1st 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. 20.51% of the stock is owned by 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.