Hagerty, Inc. (NYSE:HGTY) Director Sells $23,171.60 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 2,186 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $10.60, for a total transaction of $23,171.60. Following the sale, the director now owns 5,148,917 shares of the company’s stock, valued at $54,578,520.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Hagerty Price Performance

Shares of HGTY opened at $10.51 on Friday. The business’s 50-day moving average is $11.13 and its 200-day moving average is $10.06. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 175.20 and a beta of 0.81. Hagerty, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $12.35.

Hagerty (NYSE:HGTY) last released its earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The company had revenue of $313.23 million during the quarter, compared to the consensus estimate of $312.64 million. Hagerty had a net margin of 5.37% and a return on equity of 15.68%. Equities research analysts expect that Hagerty, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HGTY. JPMorgan Chase & Co. raised their price objective on Hagerty from $9.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Truist Financial lifted their price target on Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th.

Institutional Trading of Hagerty

Several hedge funds and other institutional investors have recently modified their holdings of HGTY. Vanguard Group Inc. grew its stake in Hagerty by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock valued at $18,559,000 after purchasing an additional 21,331 shares in the last quarter. Confluence Investment Management LLC bought a new stake in shares of Hagerty in the 1st quarter valued at approximately $3,473,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in Hagerty by 34.7% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock worth $806,000 after buying an additional 26,600 shares during the last quarter. Meixler Investment Management Ltd. raised its position in Hagerty by 21.2% during the first quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock valued at $223,000 after acquiring an additional 4,250 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in Hagerty in the second quarter valued at approximately $139,000. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

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.