Hagerty, Inc. (NYSE:HGTY) Director Sells $60,032.28 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 5,874 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $10.22, for a total value of $60,032.28. Following the transaction, the director now directly owns 5,134,664 shares of the company’s stock, valued at $52,476,266.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hagerty Trading Up 1.1 %

Shares of NYSE HGTY opened at $10.48 on Thursday. Hagerty, Inc. has a 1-year low of $7.52 and a 1-year high of $12.35. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. The business’s 50 day moving average is $11.07 and its two-hundred day moving average is $10.11. The stock has a market capitalization of $3.53 billion, a P/E ratio of 174.67 and a beta of 0.81.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Hagerty had a net margin of 5.37% and a return on equity of 15.68%. The business had revenue of $313.23 million for the quarter, compared to analysts’ expectations of $312.64 million. As a group, research analysts expect that Hagerty, Inc. will post 0.26 EPS for the current year.

Institutional Trading of Hagerty

Large investors have recently made changes to their positions in the stock. Confluence Investment Management LLC purchased a new position in Hagerty in the 1st quarter worth about $3,473,000. GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in 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 acquiring an additional 26,600 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Hagerty by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock worth $18,559,000 after acquiring an additional 21,331 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of Hagerty during the second quarter valued at approximately $139,000. Finally, Algert Global LLC purchased a new stake in shares of Hagerty in the second quarter valued at approximately $108,000. 20.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HGTY has been the topic of several recent research reports. Truist Financial upped their price objective on 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 company a “neutral” rating in a research report on Thursday, July 11th.

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.