Insider Selling: Hagerty (NYSE:HGTY) Director Sells $81,645.90 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert Kauffman sold 6,861 shares of the business’s stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $11.90, for a total value of $81,645.90. Following the completion of the transaction, the director owned 1,101,678 shares of the company’s stock, valued at $13,109,968.20. This represents a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hagerty Stock Down 2.7%

HGTY stock opened at $11.68 on Friday. Hagerty, Inc. has a 1-year low of $8.03 and a 1-year high of $13.32. The business has a fifty day moving average price of $11.65 and a 200-day moving average price of $10.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $3.99 billion, a P/E ratio of 58.40 and a beta of 0.92.

Hagerty (NYSE:HGTY) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. Hagerty had a return on equity of 13.76% and a net margin of 4.88%.The firm had revenue of $368.70 million during the quarter, compared to analysts’ expectations of $347.15 million. Hagerty has set its FY 2025 guidance at EPS. Equities analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on HGTY shares. Wells Fargo & Company started coverage on Hagerty in a research report on Friday, October 3rd. They set an “equal weight” rating and a $13.00 price objective for the company. BMO Capital Markets started coverage on Hagerty in a research report on Monday, September 22nd. They set a “market perform” rating and a $13.00 price objective for the company. Citizens Jmp started coverage on Hagerty in a research report on Wednesday, October 1st. They set a “mkt outperform” rating and a $15.00 price objective for the company. Citigroup started coverage on Hagerty in a research report on Wednesday, October 1st. They set an “outperform” rating for the company. Finally, JPMorgan Chase & Co. upped their price objective on Hagerty from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $13.88.

Hedge Funds Weigh In On Hagerty

Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc bought a new position in shares of Hagerty in the second quarter worth about $30,000. Osaic Holdings Inc. boosted its stake in shares of Hagerty by 2,374.5% in the second quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock worth $50,000 after acquiring an additional 4,749 shares during the period. Bank of America Corp DE boosted its stake in shares of Hagerty by 46.6% in the second quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock worth $87,000 after acquiring an additional 2,726 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Hagerty in the first quarter worth about $93,000. Finally, KLP Kapitalforvaltning AS boosted its stake in shares of Hagerty by 228.1% in the second quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock worth $106,000 after acquiring an additional 7,300 shares during the period. 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.