Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 7,239 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 7,239 shares of Hagerty stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $9.68, for a total transaction of $70,073.52. Following the completion of the transaction, the director now owns 3,991,838 shares in the company, valued at $38,640,991.84. This trade represents a 0.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Hagerty Stock Performance

Shares of HGTY opened at $9.72 on Friday. The company has a market capitalization of $3.32 billion, a PE ratio of 88.39 and a beta of 0.88. Hagerty, Inc. has a one year low of $8.03 and a one year high of $12.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. The company’s fifty day moving average price is $9.01 and its 200 day moving average price is $9.92.

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

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. dropped their target price on shares of Hagerty from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Neuberger Berman Group LLC increased its stake in Hagerty by 15.7% in the first quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company’s stock valued at $49,438,000 after acquiring an additional 743,597 shares during the period. Markel Group Inc. increased its stake in Hagerty by 3.6% in the fourth quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock valued at $29,992,000 after acquiring an additional 108,000 shares during the period. Greenhaven Road Investment Management L.P. increased its stake 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 valued at $12,299,000 after acquiring an additional 124,336 shares during the period. Pembroke Management LTD bought a new stake in Hagerty in the fourth quarter valued at about $9,201,000. Finally, Lincoln Capital LLC increased its stake in Hagerty by 12.3% in the first quarter. Lincoln Capital LLC now owns 555,286 shares of the company’s stock valued at $4,753,000 after acquiring an additional 60,791 shares during the period. Institutional investors own 20.51% of the company’s stock.

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.