Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 24,110 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 24,110 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $9.86, for a total value of $237,724.60. Following the completion of the sale, the director now owns 3,947,323 shares of the company’s stock, valued at $38,920,604.78. This trade represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hagerty Stock Down 2.9%

Hagerty stock opened at $9.26 on Thursday. The stock has a market capitalization of $3.16 billion, a PE ratio of 84.16 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 business has a 50 day simple moving average of $9.02 and a 200-day simple moving average of $9.89. 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 issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share (EPS) 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 analyst estimates of $299.92 million. Hagerty had a return on equity of 12.06% and a net margin of 5.27%. During the same period in the previous year, the company posted $0.04 earnings per share. On average, analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. cut their price objective on Hagerty from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th.

Institutional Trading of Hagerty

A number of institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in shares of Hagerty by 24.9% in the first quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company’s stock worth $338,000 after acquiring an additional 7,459 shares during the last quarter. Lincoln Capital LLC boosted its stake in shares of Hagerty by 12.3% in the first quarter. Lincoln Capital LLC now owns 555,286 shares of the company’s stock worth $4,753,000 after acquiring an additional 60,791 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Hagerty by 15.7% in the first quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company’s stock worth $49,438,000 after acquiring an additional 743,597 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Hagerty in the first quarter worth approximately $108,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Hagerty by 4.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,768 shares of the company’s stock worth $1,291,000 after acquiring an additional 5,667 shares during the last quarter. 20.51% of the stock is owned by institutional investors and hedge funds.

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.