Robert I. Kauffman Sells 8,362 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 8,362 shares of Hagerty stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $10.00, for a total value of $83,620.00. Following the sale, the director directly owned 3,490,919 shares in the company, valued at $34,909,190. The trade was a 0.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Hagerty Stock Performance

Hagerty stock opened at $10.07 on Friday. The stock has a 50 day moving average of $9.81 and a 200-day moving average of $9.55. The stock has a market cap of $3.44 billion, a P/E ratio of 50.33 and a beta of 0.90. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $12.35.

Hagerty (NYSE:HGTY) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. Hagerty had a return on equity of 13.55% and a net margin of 4.73%. The firm had revenue of $319.59 million for the quarter, compared to analyst estimates of $299.92 million. During the same period in the prior year, the firm posted $0.04 EPS. On average, analysts expect that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Hagerty

A number of institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new position in shares of Hagerty in the fourth quarter valued at approximately $879,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Hagerty by 35.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock valued at $100,000 after purchasing an additional 2,726 shares during the period. Legal & General Group Plc boosted its stake in shares of Hagerty by 48.6% in the fourth quarter. Legal & General Group Plc now owns 25,148 shares of the company’s stock valued at $243,000 after purchasing an additional 8,226 shares during the period. Jane Street Group LLC purchased a new position in shares of Hagerty in the fourth quarter valued at $230,000. Finally, XTX Topco Ltd bought a new position in Hagerty during the 4th quarter valued at $119,000. 20.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. cut 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.

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.