Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 4,549 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 4,549 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $11.04, for a total transaction of $50,220.96. Following the transaction, the director now owns 5,425,954 shares of the company’s stock, valued at $59,902,532.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Hagerty Stock Performance

NYSE HGTY opened at $10.99 on Friday. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 183.17 and a beta of 0.80. Hagerty, Inc. has a twelve month low of $7.52 and a twelve month high of $11.47. The stock has a fifty day simple moving average of $10.28 and a 200 day simple moving average of $9.18. 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 posted 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 business had revenue of $271.71 million during the quarter, compared to the consensus estimate of $264.32 million. Hagerty had a return on equity of 6.35% and a net margin of 1.82%. Sell-side analysts expect that Hagerty, Inc. will post 0.23 EPS for the current year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their price target on shares of Hagerty from $9.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th.

Institutional Trading of Hagerty

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. bought a new stake in Hagerty during the second quarter valued at $39,000. Vanguard Group Inc. boosted its position in Hagerty by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock valued at $18,559,000 after acquiring an additional 21,331 shares during the last quarter. Meixler Investment Management Ltd. boosted its position in Hagerty by 21.2% during the first 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. Confluence Investment Management LLC bought a new stake in Hagerty during the first quarter valued at $3,473,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in Hagerty by 34.7% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after acquiring an additional 26,600 shares during the last quarter. 20.51% of the stock is currently 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.