Hagerty (NYSE:HGTY) Director Robert Kauffman Sells 14,644 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert Kauffman sold 14,644 shares of the business’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $11.33, for a total value of $165,916.52. Following the transaction, the director directly owned 973,098 shares in the company, valued at $11,025,200.34. The trade was a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Hagerty Stock Up 0.5%

HGTY stock opened at $11.21 on Wednesday. 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 business’s 50 day simple moving average is $11.78 and its 200 day simple moving average is $10.38. Hagerty, Inc. has a 1-year low of $8.03 and a 1-year high of $13.32. The firm has a market capitalization of $3.83 billion, a PE ratio of 56.03 and a beta of 0.92.

Hagerty (NYSE:HGTY) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $347.15 million. Hagerty has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current year.

Institutional Trading of Hagerty

Large investors have recently modified their holdings of the stock. Neuberger Berman Group LLC lifted its position in shares of Hagerty by 15.7% during the 1st quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company’s stock worth $49,438,000 after buying an additional 743,597 shares during the last quarter. Greenhaven Road Investment Management L.P. lifted its position in shares of Hagerty by 33.2% during the 2nd quarter. Greenhaven Road Investment Management L.P. now owns 1,811,539 shares of the company’s stock worth $18,315,000 after buying an additional 451,033 shares during the last quarter. Garner Asset Management Corp bought a new stake in shares of Hagerty during the 1st quarter worth $2,909,000. Scholtz & Company LLC bought a new stake in shares of Hagerty during the 2nd quarter worth $2,429,000. Finally, Lincoln Capital LLC lifted its position in shares of Hagerty by 12.3% during the 1st quarter. Lincoln Capital LLC now owns 555,286 shares of the company’s stock worth $4,753,000 after buying an additional 60,791 shares during the last quarter. 20.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on HGTY shares. JPMorgan Chase & Co. upped their price objective on Hagerty from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Citizens Jmp started coverage on Hagerty in a report on Wednesday, October 1st. They issued a “mkt outperform” rating and a $15.00 price objective on the stock. Evercore ISI started coverage on Hagerty in a report on Wednesday, August 27th. They issued an “outperform” rating and a $14.00 price objective on the stock. Keefe, Bruyette & Woods started coverage on Hagerty in a report on Wednesday, August 27th. They issued an “outperform” rating and a $14.00 price objective on the stock. Finally, Wall Street Zen lowered Hagerty from a “buy” rating to a “hold” rating in a report on Saturday. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Hagerty has an average rating of “Hold” and a consensus price target of $13.88.

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.