Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 10,380 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 10,380 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $9.66, for a total value of $100,270.80. Following the transaction, the director now owns 3,789,071 shares of the company’s stock, valued at $36,602,425.86. This trade represents a 0.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hagerty Trading Up 2.0%

HGTY stock opened at $9.74 on Thursday. The business has a fifty day moving average price of $9.29 and a 200 day moving average price of $9.65. Hagerty, Inc. has a fifty-two week low of $8.03 and a fifty-two week high of $12.35. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 48.70 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.01.

Hagerty (NYSE:HGTY) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. Hagerty had a return on equity of 13.55% and a net margin of 4.73%. The firm had revenue of $319.59 million during the quarter, compared to analysts’ expectations of $299.92 million. During the same period last year, the firm posted $0.04 EPS. Analysts expect that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut their target price 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 Investors Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently bought and sold shares of HGTY. KLP Kapitalforvaltning AS acquired a new stake in Hagerty during the 4th quarter valued at $31,000. Ancora Advisors LLC acquired a new stake in shares of Hagerty in the 4th quarter valued at $46,000. BNP Paribas Financial Markets acquired a new stake in shares of Hagerty in the 4th quarter valued at $84,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Hagerty in the 1st quarter valued at $93,000. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of 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 buying an additional 2,726 shares during the period. 20.51% of the stock is 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.