Robert I. Kauffman Sells 3,836 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,836 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $9.72, for a total value of $37,285.92. Following the transaction, the director now directly owns 4,342,203 shares in the company, valued at $42,206,213.16. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Hagerty Stock Down 0.3 %

NYSE HGTY opened at $9.71 on Friday. Hagerty, Inc. has a 52 week low of $7.87 and a 52 week high of $12.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $3.31 billion, a P/E ratio of 88.27 and a beta of 0.86. The stock’s 50-day moving average price is $10.34 and its 200-day moving average price is $10.77.

Hagerty (NYSE:HGTY) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.03). The firm had revenue of $323.37 million for the quarter, compared to the consensus estimate of $318.07 million. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. During the same quarter in the previous year, the business earned $0.05 earnings per share. On average, equities research analysts predict that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Raymond James downgraded shares of Hagerty from a “market perform” rating to an “underperform” rating in a research report on Thursday, December 26th.

Hedge Funds Weigh In On Hagerty

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pembroke Management LTD purchased a new stake in Hagerty in the 4th quarter worth $9,201,000. Lincoln Capital LLC increased its holdings in shares of Hagerty by 6.7% in the fourth quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock worth $4,772,000 after purchasing an additional 31,068 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Hagerty by 376.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,143 shares of the company’s stock worth $988,000 after buying an additional 76,740 shares in the last quarter. 17 Capital Partners LLC grew its holdings in Hagerty by 10.0% during the 3rd quarter. 17 Capital Partners LLC now owns 55,000 shares of the company’s stock valued at $559,000 after buying an additional 5,000 shares in the last quarter. Finally, Barclays PLC increased its stake in Hagerty by 23.0% in the 3rd quarter. Barclays PLC now owns 31,675 shares of the company’s stock worth $321,000 after acquiring an additional 5,932 shares during the last quarter. Institutional investors own 20.51% of the company’s stock.

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.