Robert I. Kauffman Sells 5,874 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 5,874 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $10.22, for a total value of $60,032.28. Following the transaction, the director now directly owns 5,134,664 shares of the company’s stock, valued at approximately $52,476,266.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Hagerty Trading Up 2.1 %

Hagerty stock opened at $10.38 on Wednesday. The business has a 50 day moving average price of $11.08 and a two-hundred day moving average price of $10.11. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 173.00 and a beta of 0.81. Hagerty, Inc. has a 12 month low of $7.52 and a 12 month high of $12.35.

Hagerty (NYSE:HGTY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. The firm had revenue of $313.23 million during the quarter, compared to analysts’ expectations of $312.64 million. Hagerty had a return on equity of 15.68% and a net margin of 5.37%. As a group, equities analysts forecast that Hagerty, Inc. will post 0.26 EPS for the current year.

Wall Street Analyst Weigh In

HGTY has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Hagerty from $9.50 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Truist Financial boosted their price objective on Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Confluence Investment Management LLC acquired a new position in shares of Hagerty in the 1st quarter worth approximately $3,473,000. GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in Hagerty by 34.7% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock worth $806,000 after acquiring an additional 26,600 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Hagerty by 1.1% during 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 period. Dimensional Fund Advisors LP acquired a new stake in shares of Hagerty in the 2nd quarter valued at $139,000. Finally, Algert Global LLC bought a new stake in shares of Hagerty in the 2nd quarter worth about $108,000. Institutional investors own 20.51% of the company’s stock.

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.