Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 1,453 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 1,453 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $9.04, for a total value of $13,135.12. Following the transaction, the director now owns 4,082,365 shares in the company, valued at approximately $36,904,579.60. This represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hagerty Price Performance

Shares of NYSE HGTY opened at $9.71 on Friday. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year high of $12.35. The stock has a market capitalization of $3.31 billion, a P/E ratio of 88.27 and a beta of 0.88. The company’s 50-day moving average is $9.01 and its 200 day moving average is $9.95. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01.

Hagerty (NYSE:HGTY) last posted its earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. The firm had revenue of $319.59 million for the quarter, compared to the consensus estimate of $299.92 million. Hagerty had a return on equity of 12.06% and a net margin of 5.27%. During the same quarter in the prior year, the business earned $0.04 EPS. On average, sell-side analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Hagerty

A number of institutional investors have recently added to or reduced their stakes in HGTY. Pembroke Management LTD bought a new stake in shares of Hagerty during the 4th quarter valued at $9,201,000. Neuberger Berman Group LLC lifted its position in Hagerty by 11.4% during the 4th quarter. Neuberger Berman Group LLC now owns 4,725,196 shares of the company’s stock valued at $45,598,000 after acquiring an additional 483,324 shares during the period. Garner Asset Management Corp bought a new stake in Hagerty during the first quarter worth about $2,909,000. Greenhaven Road Investment Management L.P. grew its holdings in Hagerty by 10.1% in the first quarter. Greenhaven Road Investment Management L.P. now owns 1,360,506 shares of the company’s stock worth $12,299,000 after purchasing an additional 124,336 shares during the period. Finally, Markel Group Inc. increased its stake in shares of Hagerty by 3.6% during the fourth quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock valued at $29,992,000 after purchasing an additional 108,000 shares in the last quarter. Institutional investors own 20.51% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their target price on Hagerty from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 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.