Hagerty (NYSE:HGTY) Director Robert Kauffman Sells 12,219 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert Kauffman sold 12,219 shares of the stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $11.19, for a total value of $136,730.61. Following the completion of the sale, the director owned 952,593 shares of the company’s stock, valued at $10,659,515.67. The trade was a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Hagerty Price Performance

Hagerty stock opened at $11.21 on Wednesday. The stock’s 50 day moving average is $11.78 and its 200 day moving average is $10.38. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $3.83 billion, a P/E ratio of 56.03 and a beta of 0.92. Hagerty, Inc. has a one year low of $8.03 and a one year high of $13.32.

Hagerty (NYSE:HGTY) last released its earnings results on Monday, August 4th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Hagerty had a net margin of 4.88% and a return on equity of 13.76%. The business had revenue of $368.70 million during the quarter, compared to the consensus estimate of $347.15 million. Hagerty has set its FY 2025 guidance at EPS. As a group, research analysts expect that Hagerty, Inc. will post 0.22 EPS for the current year.

Hedge Funds Weigh In On Hagerty

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Greenhaven Road Investment Management L.P. grew its stake in shares of Hagerty by 10.1% in the 1st quarter. Greenhaven Road Investment Management L.P. now owns 1,360,506 shares of the company’s stock valued at $12,299,000 after buying an additional 124,336 shares during the period. Garner Asset Management Corp bought a new position in Hagerty in the first quarter worth approximately $2,909,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Hagerty in the first quarter valued at approximately $93,000. Swiss National Bank grew its stake in Hagerty by 15.3% in the first quarter. Swiss National Bank now owns 61,100 shares of the company’s stock valued at $552,000 after acquiring an additional 8,100 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Hagerty by 4.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,768 shares of the company’s stock valued at $1,291,000 after acquiring an additional 5,667 shares in the last quarter. Institutional investors own 20.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on HGTY shares. Oppenheimer started coverage on shares of Hagerty in a research note on Wednesday, September 17th. They set an “outperform” rating and a $15.00 target price for the company. BMO Capital Markets assumed coverage on Hagerty in a research report on Monday, September 22nd. They issued a “market perform” rating and a $13.00 price objective for the company. Citigroup assumed coverage on Hagerty in a research note on Wednesday, October 1st. They issued an “outperform” rating on the stock. Wells Fargo & Company started coverage on Hagerty in a research report on Friday, October 3rd. They set an “equal weight” rating and a $13.00 target price on the stock. Finally, Wall Street Zen downgraded Hagerty from a “buy” rating to a “hold” rating in a report on Saturday. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.88.

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.