Robert I. Kauffman Sells 3,913 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,913 shares of Hagerty stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $10.46, for a total value of $40,929.98. Following the transaction, the director now directly owns 5,140,538 shares of the company’s stock, valued at approximately $53,770,027.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hagerty Stock Up 2.1 %

Shares of NYSE HGTY opened at $10.38 on Wednesday. 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 firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 173.00 and a beta of 0.81. The business has a 50-day moving average of $11.08 and a 200-day moving average of $10.11.

Hagerty (NYSE:HGTY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 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 analyst estimates of $312.64 million. Sell-side analysts expect that Hagerty, Inc. will post 0.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HGTY has been the subject of a number of recent analyst reports. Truist Financial lifted their target price on Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, July 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HGTY. GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in shares of Hagerty by 34.7% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock worth $806,000 after purchasing an additional 26,600 shares in the last quarter. Confluence Investment Management LLC purchased a new position in shares of Hagerty during the first quarter worth about $3,473,000. Meixler Investment Management Ltd. grew its holdings in shares of Hagerty by 21.2% during the first quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after purchasing an additional 4,250 shares in the last quarter. Vanguard Group Inc. boosted its stake 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 in the last quarter. Finally, Blue Trust Inc. purchased a new stake in Hagerty in the second quarter worth approximately $39,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

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.