Robert I. Kauffman Sells 24,110 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 24,110 shares of Hagerty stock in a transaction on Monday, May 19th. The stock was sold at an average price of $9.86, for a total value of $237,724.60. Following the sale, the director now directly owns 3,947,323 shares of the company’s stock, valued at $38,920,604.78. This represents a 0.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Hagerty Stock Down 2.0%

Shares of NYSE:HGTY opened at $9.53 on Wednesday. Hagerty, Inc. has a 52-week low of $8.03 and a 52-week high of $12.35. The company has a market capitalization of $3.26 billion, a PE ratio of 86.64 and a beta of 0.88. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. The company has a fifty day moving average of $9.02 and a 200-day moving average of $9.90.

Hagerty (NYSE:HGTY) last posted its earnings results on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $299.92 million. During the same period last year, the company earned $0.04 EPS. On average, equities analysts predict that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reduced their price target on Hagerty from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th.

Hedge Funds Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS acquired a new stake in Hagerty during the 4th quarter valued at approximately $31,000. Ancora Advisors LLC bought a new stake in shares of Hagerty in the 4th quarter valued at $46,000. R Squared Ltd bought a new stake in shares of Hagerty in the 4th quarter valued at $51,000. BNP Paribas Financial Markets acquired a new stake in shares of Hagerty during the fourth quarter worth $84,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Hagerty during the first quarter worth $93,000. 20.51% of the stock is owned by institutional investors and hedge funds.

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.