Robert I. Kauffman Sells 6,427 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 6,427 shares of Hagerty stock in a transaction on Monday, June 9th. The stock was sold at an average price of $9.80, for a total transaction of $62,984.60. Following the transaction, the director now directly owns 3,833,116 shares in the company, valued at approximately $37,564,536.80. This represents a 0.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Hagerty Trading Down 1.1%

Shares of NYSE:HGTY opened at $9.52 on Thursday. Hagerty, Inc. has a 12 month low of $8.03 and a 12 month high of $12.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. The company’s fifty day simple moving average is $9.19 and its 200 day simple moving average is $9.72. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 86.55 and a beta of 0.91.

Hagerty (NYSE:HGTY) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. The business had revenue of $319.59 million for the quarter, compared to analyst estimates of $299.92 million. During the same period last year, the business posted $0.04 earnings per share. As a group, research analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently made changes to their positions in HGTY. KLP Kapitalforvaltning AS acquired a new stake in shares of Hagerty during the fourth quarter worth $31,000. Ancora Advisors LLC acquired a new stake in shares of Hagerty during the fourth quarter worth $46,000. BNP Paribas Financial Markets acquired a new stake in shares of Hagerty during the fourth quarter worth $84,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Hagerty during the first quarter worth $93,000. Finally, Steward Partners Investment Advisory LLC increased its stake in Hagerty by 35.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock valued at $100,000 after buying an additional 2,726 shares during the last quarter. 20.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reduced their price target on shares of Hagerty from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report 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.