Hagerty, Inc. (NYSE:HGTY) Director Sells $31,254.30 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,465 shares of Hagerty stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $9.02, for a total value of $31,254.30. Following the completion of the sale, the director now owns 3,424,072 shares in the company, valued at $30,885,129.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Hagerty Stock Performance

NYSE HGTY opened at $8.65 on Thursday. Hagerty, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $10.36. The firm has a market capitalization of $2.90 billion, a P/E ratio of 123.57 and a beta of 0.77. The stock’s fifty day moving average is $8.73 and its two-hundred day moving average is $8.32. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 1.48.

Hagerty (NYSE:HGTY) last issued its earnings results on Tuesday, March 12th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $245.04 million for the quarter, compared to the consensus estimate of $245.17 million. Hagerty had a net margin of 1.84% and a return on equity of 4.53%. On average, research analysts anticipate that Hagerty, Inc. will post 0.19 earnings per share for the current year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. assumed coverage on shares of Hagerty in a research report on Thursday, January 11th. They issued a “neutral” rating and a $9.00 target price for the company.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Hagerty by 46.2% in the third quarter. Vanguard Group Inc. now owns 1,987,616 shares of the company’s stock valued at $17,869,000 after purchasing an additional 628,530 shares during the period. Confluence Investment Management LLC purchased a new stake in Hagerty in the 1st quarter valued at about $3,473,000. BlackRock Inc. acquired a new position in Hagerty in the first quarter valued at about $3,594,000. Wasatch Advisors Inc. boosted its stake in Hagerty by 3.3% during the first quarter. Wasatch Advisors Inc. now owns 7,025,761 shares of the company’s stock worth $75,808,000 after buying an additional 224,842 shares during the period. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Hagerty during the first quarter valued at about $1,482,000. 20.51% of the stock is currently 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.