Robert I. Kauffman Sells 7,681 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 7,681 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $9.92, for a total value of $76,195.52. Following the sale, the director now owns 3,877,418 shares in the company, valued at $38,463,986.56. The trade was a 0.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Hagerty Price Performance

HGTY stock opened at $10.03 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. Hagerty, Inc. has a fifty-two week low of $8.03 and a fifty-two week high of $12.35. The firm’s 50-day simple moving average is $9.13 and its 200 day simple moving average is $9.76. The stock has a market cap of $3.43 billion, a PE ratio of 91.18 and a beta of 0.91.

Hagerty (NYSE:HGTY) last posted 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 during the quarter, compared to analysts’ expectations of $299.92 million. During the same quarter in the prior year, the firm earned $0.04 EPS. As a group, sell-side analysts predict that Hagerty, Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Hagerty

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC increased its position in Hagerty by 35.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock valued at $100,000 after acquiring an additional 2,726 shares during the period. Swiss National Bank increased its holdings in shares of Hagerty by 6.0% during the fourth quarter. Swiss National Bank now owns 53,000 shares of the company’s stock valued at $511,000 after purchasing an additional 3,000 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Hagerty during the fourth quarter valued at $31,000. Garde Capital Inc. raised its stake in shares of Hagerty by 4.0% during the fourth quarter. Garde Capital Inc. now owns 103,960 shares of the company’s stock valued at $1,003,000 after purchasing an additional 3,960 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Hagerty by 7.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,205 shares of the company’s stock worth $620,000 after purchasing an additional 4,575 shares during the period. 20.51% of the stock is currently owned by institutional investors and hedge funds.

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.