Robert Kauffman Sells 14,731 Shares of Hagerty (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert Kauffman sold 14,731 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $11.16, for a total value of $164,397.96. Following the transaction, the director owned 913,367 shares of the company’s stock, valued at approximately $10,193,175.72. The trade was a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hagerty Price Performance

Hagerty stock opened at $11.10 on Friday. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $13.32. The business has a 50-day simple moving average of $11.78 and a 200 day simple moving average of $10.44. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.27. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 55.49 and a beta of 0.92.

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

Institutional Investors Weigh In On Hagerty

Hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc bought a new stake in shares of Hagerty in the 2nd quarter valued at about $30,000. Osaic Holdings Inc. increased its holdings in Hagerty by 2,374.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock valued at $50,000 after purchasing an additional 4,749 shares during the period. Bank of America Corp DE increased its holdings in Hagerty by 46.6% during the 2nd quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock valued at $87,000 after purchasing an additional 2,726 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Hagerty during the 1st quarter valued at about $93,000. Finally, KLP Kapitalforvaltning AS increased its holdings in Hagerty by 228.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock valued at $106,000 after purchasing an additional 7,300 shares during the period. Institutional investors own 20.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods assumed coverage on Hagerty in a research note on Wednesday, August 27th. They set an “outperform” rating and a $14.00 price target for the company. JMP Securities assumed coverage on Hagerty in a research note on Wednesday, October 1st. They set a “market outperform” rating and a $15.00 price target for the company. Wall Street Zen lowered Hagerty from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Citizens Jmp assumed coverage on Hagerty in a research note on Wednesday, October 1st. They set a “mkt outperform” rating and a $15.00 price target for the company. Finally, Evercore ISI initiated coverage on Hagerty in a research note on Wednesday, August 27th. They set an “outperform” rating and a $14.00 price target for the company. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.88.

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.