Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 31,110 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 31,110 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $10.14, for a total value of $315,455.40. Following the transaction, the director now owns 3,738,504 shares of the company’s stock, valued at approximately $37,908,430.56. This trade represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Hagerty Trading Up 0.8%

NYSE:HGTY opened at $10.10 on Wednesday. The stock has a fifty day simple moving average of $9.39 and a 200 day simple moving average of $9.59. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 50.52 and a beta of 0.91. Hagerty, Inc. has a 1-year low of $8.03 and a 1-year high of $12.35.

Hagerty (NYSE:HGTY) last released its earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.06. The business had revenue of $319.59 million for the quarter, compared to the consensus estimate of $299.92 million. Hagerty had a net margin of 4.73% and a return on equity of 13.55%. During the same period last year, the firm posted $0.04 earnings per share. Sell-side analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

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.

Institutional Trading of Hagerty

Several large investors have recently added to or reduced their stakes in the company. Markel Group Inc. boosted its stake in shares of Hagerty by 3.6% during the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock valued at $29,992,000 after buying an additional 108,000 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Hagerty during the 4th quarter valued at about $879,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Hagerty by 35.9% during 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 last quarter. Legal & General Group Plc grew its stake in shares of Hagerty by 48.6% in the 4th quarter. Legal & General Group Plc now owns 25,148 shares of the company’s stock valued at $243,000 after buying an additional 8,226 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Hagerty in the fourth quarter worth approximately $230,000. 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.