Robert I. Kauffman Sells 3,713 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,713 shares of Hagerty stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $9.57, for a total value of $35,533.41. Following the completion of the transaction, the director now directly owns 4,331,394 shares of the company’s stock, valued at approximately $41,451,440.58. This represents a 0.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Hagerty Stock Performance

Shares of HGTY opened at $10.19 on Friday. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 92.66 and a beta of 0.85. The business’s fifty day simple moving average is $10.20 and its two-hundred day simple moving average is $10.74. Hagerty, Inc. has a 12 month low of $8.05 and a 12 month high of $12.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23.

Hagerty (NYSE:HGTY) last announced 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 net margin of 5.27% and a return on equity of 12.06%. The business had revenue of $323.37 million for the quarter, compared to the consensus estimate of $318.07 million. During the same period in the previous year, the company earned $0.05 earnings per share. Research analysts anticipate that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Hagerty

A number of hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP bought a new stake in shares of Hagerty in the second quarter worth approximately $139,000. Algert Global LLC purchased a new stake in Hagerty in the second quarter worth approximately $108,000. Blue Trust Inc. grew its position in 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 purchasing an additional 6,758 shares during the period. Goldstone Financial Group LLC purchased a new stake in Hagerty during the 3rd quarter valued at $236,000. Finally, 17 Capital Partners LLC raised its stake in Hagerty by 10.0% during the 3rd quarter. 17 Capital Partners LLC now owns 55,000 shares of the company’s stock valued at $559,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other 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.