Hagerty, Inc. (NYSE:HGTY) Director Sells $117,067.68 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 12,044 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $9.72, for a total transaction of $117,067.68. Following the completion of the sale, the director now directly owns 3,979,794 shares in the company, valued at approximately $38,683,597.68. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Hagerty Stock Performance

NYSE HGTY traded up $0.11 during mid-day trading on Monday, reaching $9.79. 66,843 shares of the stock were exchanged, compared to its average volume of 86,086. The business’s 50 day moving average is $9.01 and its 200-day moving average is $9.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year high of $12.35. The company has a market capitalization of $3.34 billion, a P/E ratio of 89.00 and a beta of 0.88.

Hagerty (NYSE:HGTY) last released 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 12.06% and a net margin of 5.27%. The company had revenue of $319.59 million during the quarter, compared to analysts’ expectations of $299.92 million. During the same quarter in the prior year, the firm posted $0.04 EPS. On average, equities research analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HGTY. Markel Group Inc. raised its position 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 worth $29,992,000 after purchasing an additional 108,000 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Hagerty during the fourth quarter worth approximately $879,000. Lincoln Capital LLC increased its position in shares of Hagerty by 6.7% during the fourth quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock worth $4,772,000 after purchasing an additional 31,068 shares in the last quarter. Pembroke Management LTD acquired a new position in Hagerty in the 4th quarter valued at $9,201,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in 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 purchasing an additional 2,726 shares in the last quarter. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. dropped their target price on Hagerty from $11.00 to $10.00 and set a “neutral” rating on the stock in a report 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.