Hagerty, Inc. (NYSE:HGTY) Director Sells $78,680.70 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 8,326 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $9.45, for a total transaction of $78,680.70. Following the completion of the sale, the director now owns 4,028,926 shares in the company, valued at approximately $38,073,350.70. This trade represents a 0.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Hagerty Stock Down 1.4%

NYSE:HGTY opened at $9.49 on Friday. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 86.27 and a beta of 0.88. Hagerty, Inc. has a one year low of $8.03 and a one year high of $12.35. The stock has a 50-day simple moving average of $9.00 and a 200 day simple moving average of $9.93. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01.

Hagerty (NYSE:HGTY) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.06. The firm had revenue of $319.59 million for the quarter, compared to analyst estimates of $299.92 million. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. During the same quarter in the prior year, the business earned $0.04 earnings per share. Sell-side analysts predict that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Hagerty

Several institutional investors and hedge funds have recently bought and sold shares of HGTY. Lincoln Capital LLC increased its stake in shares of Hagerty by 12.3% in the first quarter. Lincoln Capital LLC now owns 555,286 shares of the company’s stock valued at $4,753,000 after purchasing an additional 60,791 shares during the period. Neuberger Berman Group LLC boosted its holdings in Hagerty by 15.7% during the first quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company’s stock worth $49,438,000 after buying an additional 743,597 shares in the last quarter. Virtu Financial LLC bought a new stake in Hagerty during the first quarter worth approximately $108,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Hagerty by 4.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,768 shares of the company’s stock worth $1,291,000 after purchasing an additional 5,667 shares during the period. Finally, Swiss National Bank boosted its stake in Hagerty by 15.3% in the 1st quarter. Swiss National Bank now owns 61,100 shares of the company’s stock worth $552,000 after purchasing an additional 8,100 shares during the period. Institutional investors and hedge funds own 20.51% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. decreased their price target on Hagerty from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th.

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.