Hagerty, Inc. (NYSE:HGTY) Director Sells $44,025.50 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 4,610 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $9.55, for a total value of $44,025.50. Following the completion of the sale, the director now directly owns 3,799,451 shares of the company’s stock, valued at approximately $36,284,757.05. This represents a 0.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Hagerty Stock Up 2.0%

HGTY opened at $9.86 on Friday. Hagerty, Inc. has a fifty-two week low of $8.03 and a fifty-two week high of $12.35. The business has a 50-day moving average of $9.34 and a 200-day moving average of $9.62. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $3.37 billion, a PE ratio of 49.28 and a beta of 0.91.

Hagerty (NYSE:HGTY) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, topping 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 company had revenue of $319.59 million during the quarter, compared to the consensus estimate of $299.92 million. During the same period last year, the business earned $0.04 EPS. Equities research analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently made changes to their positions in HGTY. Pembroke Management LTD purchased a new stake in shares of Hagerty during the 4th quarter worth about $9,201,000. Bank of New York Mellon Corp bought a new position in shares of Hagerty in the 4th quarter valued at approximately $182,000. Steward Partners Investment Advisory LLC raised 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 acquiring an additional 2,726 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Hagerty by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 140,037 shares of the company’s stock valued at $1,351,000 after acquiring an additional 8,258 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Hagerty in the 4th quarter valued at approximately $879,000. 20.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced 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.

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.