Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 3,515 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,515 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $10.80, for a total value of $37,962.00. Following the completion of the sale, the director now directly owns 5,391,493 shares in the company, valued at approximately $58,228,124.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Hagerty Stock Performance

NYSE:HGTY opened at $10.79 on Friday. The business’s 50-day moving average price is $10.61 and its two-hundred day moving average price is $9.37. Hagerty, Inc. has a twelve month low of $7.52 and a twelve month high of $11.47. The stock has a market cap of $3.63 billion, a P/E ratio of 179.83 and a beta of 0.80. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.22.

Hagerty (NYSE:HGTY) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $271.71 million for the quarter, compared to analysts’ expectations of $264.32 million. Hagerty had a return on equity of 6.35% and a net margin of 1.82%. As a group, equities analysts predict that Hagerty, Inc. will post 0.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Truist Financial raised their price target on Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a report on Thursday.

Hedge Funds Weigh In On Hagerty

A number of large investors have recently modified their holdings of HGTY. Confluence Investment Management LLC purchased a new position in shares of Hagerty during the 1st quarter valued at about $3,473,000. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in shares of Hagerty by 34.7% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after buying an additional 26,600 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Hagerty by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock valued at $18,559,000 after buying an additional 21,331 shares in the last quarter. MeadowBrook Investment Advisors LLC purchased a new position in shares of Hagerty during the 4th quarter valued at about $132,000. Finally, Meixler Investment Management Ltd. raised its holdings in shares of Hagerty by 21.2% during the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock valued at $223,000 after buying an additional 4,250 shares in the last quarter. 20.51% of the stock is owned by hedge funds and other institutional investors.

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.