Hagerty, Inc. (NYSE:HGTY) Director Sells $48,926.80 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 5,044 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $9.70, for a total transaction of $48,926.80. Following the completion of the sale, the director now owns 4,361,998 shares in the company, valued at approximately $42,311,380.60. This trade represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Hagerty Price Performance

HGTY stock opened at $9.70 on Friday. The business’s fifty day moving average price is $10.51 and its 200 day moving average price is $10.83. Hagerty, Inc. has a 12-month low of $7.82 and a 12-month high of $12.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $3.31 billion, a PE ratio of 88.14 and a beta of 0.86.

Hagerty (NYSE:HGTY) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). Hagerty had a return on equity of 12.06% and a net margin of 5.27%. The business had revenue of $323.37 million for the quarter, compared to analysts’ expectations of $318.07 million. During the same quarter last year, the company earned $0.05 earnings per share. On average, sell-side analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current year.

Analyst Ratings Changes

Separately, Raymond James downgraded shares of Hagerty from a “market perform” rating to an “underperform” rating in a research note on Thursday, December 26th.

Institutional Investors Weigh In On Hagerty

A number of hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd purchased a new stake in shares of Hagerty during the fourth quarter worth $51,000. Blue Trust Inc. grew its stake in Hagerty by 188.6% during the 4th quarter. Blue Trust Inc. now owns 30,423 shares of the company’s stock worth $309,000 after purchasing an additional 19,881 shares in the last quarter. Lincoln Capital LLC increased its holdings in Hagerty by 6.7% during the 4th quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock worth $4,772,000 after purchasing an additional 31,068 shares during the period. Barclays PLC raised its position in Hagerty by 23.0% in the 3rd quarter. Barclays PLC now owns 31,675 shares of the company’s stock valued at $321,000 after purchasing an additional 5,932 shares in the last quarter. Finally, PDT Partners LLC acquired a new stake in Hagerty in the 3rd quarter valued at about $185,000. 20.51% of the stock is currently owned by institutional investors and hedge funds.

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.