Hagerty, Inc. (NYSE:HGTY) Director Sells $65,590.00 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 7,000 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $9.37, for a total value of $65,590.00. Following the completion of the transaction, the director now directly owns 3,916,007 shares of the company’s stock, valued at approximately $36,692,985.59. This trade represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Hagerty Price Performance

Shares of NYSE HGTY traded up $0.08 during midday trading on Wednesday, reaching $9.48. 73,444 shares of the company traded hands, compared to its average volume of 64,519. Hagerty, Inc. has a 12 month low of $8.03 and a 12 month high of $12.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50-day simple moving average is $9.02 and its 200-day simple moving average is $9.82. The firm has a market cap of $3.24 billion, a PE ratio of 86.18 and a beta of 0.88.

Hagerty (NYSE:HGTY) last announced its 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 business had revenue of $319.59 million during the quarter, compared to analysts’ expectations of $299.92 million. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. During the same quarter last year, the company posted $0.04 EPS. As a group, equities analysts anticipate that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HGTY. KLP Kapitalforvaltning AS bought a new stake in Hagerty during the 4th quarter worth approximately $31,000. Ancora Advisors LLC acquired a new position in Hagerty in the fourth quarter worth $46,000. R Squared Ltd bought a new stake in shares of Hagerty during the fourth quarter worth $51,000. BNP Paribas Financial Markets bought a new position in shares of Hagerty in the fourth quarter valued at about $84,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Hagerty during the 1st quarter worth about $93,000. Institutional investors own 20.51% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. cut their price target on shares of Hagerty from $11.00 to $10.00 and set a “neutral” rating for the company 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.