Robert I. Kauffman Sells 40,908 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 40,908 shares of Hagerty stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $10.13, for a total value of $414,398.04. Following the sale, the director now directly owns 3,074,333 shares in the company, valued at approximately $31,142,993.29. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Hagerty Price Performance

Shares of HGTY stock traded up $0.56 during mid-day trading on Thursday, hitting $10.07. 804,284 shares of the stock traded hands, compared to its average volume of 81,225. The company’s 50-day simple moving average is $9.36 and its 200-day simple moving average is $8.73. Hagerty, Inc. has a twelve month low of $7.52 and a twelve month high of $10.62. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 165.03 and a beta of 0.78. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.47 and a current ratio of 1.47.

Hagerty (NYSE:HGTY) last announced its earnings results on Tuesday, May 7th. The company reported $0.04 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 analysts’ expectations of $264.32 million. Hagerty had a net margin of 1.82% and a return on equity of 6.35%. As a group, equities research analysts expect that Hagerty, Inc. will post 0.21 earnings per share for the current year.

Institutional Trading of Hagerty

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Hagerty by 1.1% in 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 during the last quarter. Fenimore Asset Management Inc. lifted its stake in Hagerty by 0.8% in 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. Confluence Investment Management LLC bought a new position in shares of Hagerty in the first quarter valued at about $3,473,000. Lincoln Capital LLC boosted its holdings in shares of Hagerty by 18.0% during the 4th quarter. Lincoln Capital LLC now owns 328,763 shares of the company’s stock worth $2,593,000 after buying an additional 50,140 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in Hagerty by 34.7% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after buying an additional 26,600 shares during the last quarter. Institutional investors own 20.51% of the company’s stock.

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.