Insider Buying: Hagerty, Inc. (NYSE:HGTY) Director Acquires 2,000 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Anthony J. Kuczinski purchased 2,000 shares of Hagerty stock in a transaction on Monday, May 12th. The stock was purchased at an average price of $9.44 per share, for a total transaction of $18,880.00. Following the completion of the transaction, the director now owns 26,277 shares of the company’s stock, valued at approximately $248,054.88. This represents a 8.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Hagerty Price Performance

NYSE:HGTY opened at $9.72 on Friday. The firm has a market cap of $3.32 billion, a PE ratio of 88.39 and a beta of 0.88. Hagerty, Inc. has a 12 month low of $8.03 and a 12 month high of $12.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average price is $9.01 and its two-hundred day moving average price is $9.91.

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

Hedge Funds Weigh In On Hagerty

Large investors have recently modified their holdings of the stock. KLP Kapitalforvaltning AS acquired a new position in shares of Hagerty during the fourth quarter worth approximately $31,000. Ancora Advisors LLC acquired a new position in shares of Hagerty during the fourth quarter worth approximately $46,000. R Squared Ltd acquired a new position in shares of Hagerty during the fourth quarter worth approximately $51,000. BNP Paribas Financial Markets acquired a new position in shares of Hagerty during the fourth quarter worth approximately $84,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Hagerty during the first quarter worth approximately $93,000. 20.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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