Robert I. Kauffman Sells 5,404 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 5,404 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $10.70, for a total transaction of $57,822.80. Following the completion of the transaction, the director now owns 5,156,835 shares in the company, valued at $55,178,134.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hagerty Stock Performance

Shares of HGTY stock opened at $10.66 on Friday. The firm’s 50 day moving average price is $11.17 and its 200-day moving average price is $10.02. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04. Hagerty, Inc. has a one year low of $7.52 and a one year high of $12.35. The firm has a market cap of $3.59 billion, a P/E ratio of 177.67 and a beta of 0.81.

Hagerty (NYSE:HGTY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. Hagerty had a net margin of 5.37% and a return on equity of 15.68%. The firm had revenue of $313.23 million for the quarter, compared to analyst estimates of $312.64 million. As a group, equities research analysts predict that Hagerty, Inc. will post 0.26 EPS for the current year.

Hedge Funds Weigh In On Hagerty

Several large investors have recently made changes to their positions in HGTY. Blue Trust Inc. purchased a new stake in Hagerty during the 2nd quarter worth approximately $39,000. Algert Global LLC purchased a new stake in Hagerty during the 2nd quarter worth approximately $108,000. Dimensional Fund Advisors LP purchased a new stake in Hagerty during the 2nd quarter worth approximately $139,000. Meixler Investment Management Ltd. increased its stake in Hagerty by 21.2% during the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after buying an additional 4,250 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Hagerty by 34.7% during the 4th 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 period. 20.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HGTY has been the topic of several recent analyst reports. Truist Financial boosted their target price on shares of Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on shares of Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, July 11th.

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.