Robert I. Kauffman Sells 2,186 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 2,186 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $10.60, for a total transaction of $23,171.60. Following the sale, the director now owns 5,148,917 shares of the company’s stock, valued at approximately $54,578,520.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hagerty Stock Performance

Shares of NYSE HGTY opened at $10.51 on Friday. Hagerty, Inc. has a 12-month low of $7.52 and a 12-month high of $12.35. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.58 billion, a PE ratio of 175.20 and a beta of 0.81. The stock has a 50 day simple moving average of $11.13 and a 200-day simple moving average of $10.06.

Hagerty (NYSE:HGTY) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. Hagerty had a return on equity of 15.68% and a net margin of 5.37%. The company had revenue of $313.23 million during the quarter, compared to analysts’ expectations of $312.64 million. On average, equities research analysts forecast that Hagerty, Inc. will post 0.26 EPS for the current year.

Wall Street Analysts Forecast Growth

HGTY has been the topic of a number of recent research reports. Truist Financial raised their target price on shares of Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their price objective on shares of Hagerty from $9.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th.

Hedge Funds Weigh In On Hagerty

Several large investors have recently bought and sold shares of HGTY. Blue Trust Inc. bought a new position in shares of Hagerty in the second quarter valued at approximately $39,000. Algert Global LLC acquired a new stake in Hagerty in the second quarter worth approximately $108,000. Dimensional Fund Advisors LP bought a new position in Hagerty during the 2nd quarter valued at $139,000. Meixler Investment Management Ltd. increased its position 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 purchasing an additional 4,250 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in shares of Hagerty by 34.7% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock worth $806,000 after buying an additional 26,600 shares in the last quarter. Institutional investors and hedge funds own 20.51% of the company’s stock.

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.