Robert Kauffman Sells 55,524 Shares of Hagerty (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert Kauffman sold 55,524 shares of the business’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $12.16, for a total value of $675,171.84. Following the completion of the sale, the director owned 1,023,525 shares of the company’s stock, valued at approximately $12,446,064. This trade represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hagerty Trading Down 1.3%

Shares of HGTY stock opened at $11.30 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.27. The stock has a market cap of $3.86 billion, a P/E ratio of 56.48 and a beta of 0.92. The stock has a 50 day simple moving average of $11.77 and a 200 day simple moving average of $10.34. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year high of $13.32.

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

Institutional Investors Weigh In On Hagerty

Several institutional investors and hedge funds have recently added to or reduced their stakes in HGTY. Greenhaven Road Investment Management L.P. lifted its stake in Hagerty by 10.1% during the first quarter. Greenhaven Road Investment Management L.P. now owns 1,360,506 shares of the company’s stock worth $12,299,000 after purchasing an additional 124,336 shares during the last quarter. Garner Asset Management Corp bought a new position in shares of Hagerty in the 1st quarter valued at $2,909,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Hagerty in the 1st quarter valued at $93,000. Swiss National Bank lifted its stake in shares of Hagerty by 15.3% in the 1st quarter. Swiss National Bank now owns 61,100 shares of the company’s stock valued at $552,000 after acquiring an additional 8,100 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Hagerty by 4.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,768 shares of the company’s stock valued at $1,291,000 after acquiring an additional 5,667 shares during the last quarter. 20.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HGTY. BMO Capital Markets began coverage on Hagerty in a research note on Monday, September 22nd. They issued a “market perform” rating and a $13.00 price target for the company. Citizens Jmp started coverage on Hagerty in a research note on Wednesday, October 1st. They set a “mkt outperform” rating and a $15.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of Hagerty in a research note on Wednesday, October 8th. Wall Street Zen cut Hagerty from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Evercore ISI started coverage on Hagerty in a research note on Wednesday, August 27th. They set an “outperform” rating and a $14.00 target price for the company. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.88.

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.