Hagerty, Inc. (NYSE:HGTY) Director Sells $148,429.36 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 13,324 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $11.14, for a total value of $148,429.36. Following the transaction, the director now owns 5,506,600 shares of the company’s stock, valued at approximately $61,343,524. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Hagerty Trading Down 3.9 %

Shares of NYSE:HGTY opened at $10.97 on Friday. Hagerty, Inc. has a twelve month low of $7.52 and a twelve month high of $11.47. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.22. The firm has a market cap of $3.69 billion, a P/E ratio of 182.86 and a beta of 0.80. The company has a 50 day moving average of $9.85 and a 200-day moving average of $8.96.

Hagerty (NYSE:HGTY) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Hagerty had a return on equity of 6.35% and a net margin of 1.82%. The firm had revenue of $271.71 million during the quarter, compared to analyst estimates of $264.32 million. As a group, analysts anticipate that Hagerty, Inc. will post 0.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lifted their price objective on shares of Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Meixler Investment Management Ltd. lifted its holdings in Hagerty by 21.2% in the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock valued at $223,000 after acquiring an additional 4,250 shares during the last quarter. Blue Trust Inc. acquired a new stake in Hagerty during the fourth quarter valued at approximately $57,000. Fenimore Asset Management Inc. lifted its stake in Hagerty by 0.8% during the fourth quarter. Fenimore Asset Management Inc. now owns 945,286 shares of the company’s stock valued at $7,373,000 after purchasing an additional 7,600 shares during the last quarter. MeadowBrook Investment Advisors LLC bought a new stake in Hagerty during the fourth quarter worth approximately $132,000. Finally, Vanguard Group Inc. grew its position in Hagerty by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock worth $18,559,000 after buying an additional 21,331 shares during the last quarter. 20.51% of the stock is owned by institutional investors and hedge funds.

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.