Robert I. Kauffman Sells 8,361 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 8,361 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $9.69, for a total value of $81,018.09. Following the transaction, the director now owns 3,971,433 shares of the company’s stock, valued at approximately $38,483,185.77. The trade was a 0.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hagerty Price Performance

Shares of HGTY opened at $9.53 on Wednesday. The company has a market cap of $3.26 billion, a P/E ratio of 86.64 and a beta of 0.88. The stock has a fifty day moving average price of $9.02 and a 200 day moving average price of $9.90. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. Hagerty, Inc. has a 12 month low of $8.03 and a 12 month high of $12.35.

Hagerty (NYSE:HGTY) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.06. Hagerty had a return on equity of 12.06% and a net margin of 5.27%. The company had revenue of $319.59 million during the quarter, compared to analysts’ expectations of $299.92 million. During the same quarter in the prior year, the business posted $0.04 earnings per share. On average, research analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. KLP Kapitalforvaltning AS bought a new position in shares of Hagerty in the fourth quarter worth $31,000. Ancora Advisors LLC bought a new position in shares of Hagerty in the fourth quarter worth $46,000. R Squared Ltd bought a new position in shares of Hagerty in the fourth quarter worth $51,000. BNP Paribas Financial Markets bought a new position in shares of Hagerty in the fourth quarter worth $84,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Hagerty in the first quarter worth $93,000. Institutional investors own 20.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lowered their price objective 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.