Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 7,933 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 7,933 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $10.70, for a total value of $84,883.10. Following the transaction, the director now owns 5,094,769 shares of the company’s stock, valued at approximately $54,514,028.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hagerty Trading Up 0.5 %

Hagerty stock opened at $10.79 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. Hagerty, Inc. has a one year low of $7.52 and a one year high of $12.35. The stock has a market capitalization of $3.68 billion, a PE ratio of 89.92 and a beta of 0.79. The business’s fifty day moving average is $11.02 and its 200 day moving average is $10.20.

Hagerty (NYSE:HGTY) last posted its earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share 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 company had revenue of $313.23 million for the quarter, compared to the consensus estimate of $312.64 million. On average, sell-side analysts predict that Hagerty, Inc. will post 0.26 EPS for the current year.

Institutional Trading of Hagerty

Several large investors have recently added to or reduced their stakes in the company. Confluence Investment Management LLC acquired a new position in Hagerty in the 1st quarter worth about $3,473,000. Meixler Investment Management Ltd. grew its position in Hagerty by 21.2% in the first quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after acquiring an additional 4,250 shares during the period. Vanguard Group Inc. grew its position in Hagerty by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock worth $18,559,000 after acquiring an additional 21,331 shares during the period. Blue Trust Inc. purchased a new position in Hagerty in the second quarter worth approximately $39,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Hagerty during the second quarter worth $139,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Truist Financial upped their target price on Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their price objective on Hagerty from $9.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th.

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.