Hagerty, Inc. (NYSE:HGTY) Director Sells $40,929.98 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,913 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $10.46, for a total transaction of $40,929.98. Following the sale, the director now directly owns 5,140,538 shares of the company’s stock, valued at $53,770,027.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Hagerty Stock Performance

NYSE:HGTY opened at $10.48 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 174.67 and a beta of 0.81. The firm’s fifty day simple moving average is $11.07 and its 200 day simple moving average is $10.11. Hagerty, Inc. has a twelve month low of $7.52 and a twelve month high of $12.35.

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

Hedge Funds Weigh In On Hagerty

A number of institutional investors have recently added to or reduced their stakes in HGTY. GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in Hagerty by 34.7% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock worth $806,000 after buying an additional 26,600 shares in the last quarter. Confluence Investment Management LLC acquired a new position in Hagerty in the 1st quarter worth $3,473,000. Meixler Investment Management Ltd. lifted its holdings in Hagerty by 21.2% in the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after buying an additional 4,250 shares in the last quarter. Vanguard Group Inc. lifted its holdings 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 buying an additional 21,331 shares in the last quarter. Finally, Blue Trust Inc. acquired a new position in Hagerty in the 2nd quarter worth $39,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Truist Financial lifted their target price on shares of Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a report on Thursday, August 8th.

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.