Hagerty, Inc. (NYSE:HGTY) Director Sells $31,755.62 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,301 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $9.62, for a total transaction of $31,755.62. Following the completion of the sale, the director now directly owns 4,372,659 shares in the company, valued at $42,064,979.58. This represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Hagerty Stock Performance

Shares of Hagerty stock traded down $0.03 during trading hours on Thursday, reaching $9.70. The company’s stock had a trading volume of 50,668 shares, compared to its average volume of 55,633. The company’s 50 day simple moving average is $10.54 and its 200 day simple moving average is $10.83. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. Hagerty, Inc. has a one year low of $7.82 and a one year high of $12.35. The stock has a market cap of $3.31 billion, a P/E ratio of 88.14 and a beta of 0.86.

Hagerty (NYSE:HGTY) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). Hagerty had a return on equity of 12.06% and a net margin of 5.27%. The business had revenue of $323.37 million during the quarter, compared to the consensus estimate of $318.07 million. During the same quarter in the previous year, the business posted $0.05 earnings per share. As a group, analysts expect that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Trading of Hagerty

Large investors have recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of Hagerty in the 4th quarter worth about $51,000. FMR LLC increased its holdings in shares of Hagerty by 25,769.2% in the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock worth $68,000 after acquiring an additional 6,700 shares during the period. Algert Global LLC acquired a new stake in shares of Hagerty in the 2nd quarter worth about $108,000. Blue Trust Inc. increased its holdings in shares of Hagerty by 178.6% in the 3rd quarter. Blue Trust Inc. now owns 10,542 shares of the company’s stock worth $110,000 after acquiring an additional 6,758 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Hagerty in the 2nd quarter worth about $139,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James cut shares of Hagerty from a “market perform” rating to an “underperform” rating in a report on Thursday, December 26th.

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.