Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 1,441 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 1,441 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $10.47, for a total transaction of $15,087.27. Following the sale, the director now owns 5,062,312 shares of the company’s stock, valued at $53,002,406.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Hagerty Stock Performance

Shares of HGTY stock traded up $0.20 during trading hours on Thursday, hitting $10.68. The stock had a trading volume of 92,134 shares, compared to its average volume of 79,140. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $3.60 billion, a PE ratio of 176.17 and a beta of 0.79. The stock’s 50 day moving average is $11.02 and its 200 day moving average is $10.29. Hagerty, Inc. has a twelve month low of $7.52 and a twelve month high of $12.35.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently bought and sold shares of HGTY. Blue Trust Inc. acquired a new position in Hagerty in the 2nd quarter valued at $39,000. Meixler Investment Management Ltd. boosted its holdings 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 acquiring an additional 4,250 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Hagerty in the second quarter valued at about $108,000. Dimensional Fund Advisors LP acquired a new position in shares of Hagerty during the second quarter worth about $139,000. Finally, Lakewood Asset Management LLC purchased a new position in Hagerty during the third quarter worth about $186,000. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

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.