Robert I. Kauffman Sells 11,428 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 11,428 shares of Hagerty stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $10.57, for a total transaction of $120,793.96. Following the sale, the director now directly owns 5,353,334 shares in the company, valued at $56,584,740.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Hagerty Stock Down 1.7 %

Shares of NYSE HGTY opened at $10.60 on Monday. The company has a 50 day simple moving average of $10.63 and a 200 day simple moving average of $9.40. The firm has a market cap of $3.57 billion, a PE ratio of 176.67 and a beta of 0.80. Hagerty, Inc. has a 1 year low of $7.52 and a 1 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.

Wall Street Analysts Forecast Growth

HGTY has been the topic of a number of research analyst reports. Truist Financial raised their target price on shares of Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on Hagerty from $9.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th.

Institutional Trading of Hagerty

Several institutional investors have recently modified their holdings of the business. Blue Trust Inc. bought a new position in Hagerty during the 2nd quarter worth $39,000. Meixler Investment Management Ltd. increased its stake in shares of Hagerty by 21.2% in the first quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock valued at $223,000 after buying an additional 4,250 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of Hagerty during the second quarter worth about $139,000. MeadowBrook Investment Advisors LLC acquired a new position in shares of Hagerty in the fourth quarter worth approximately $132,000. Finally, Vanguard Group Inc. boosted its holdings in Hagerty by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock valued at $18,559,000 after acquiring an additional 21,331 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.