Robert I. Kauffman Sells 8,005 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 8,005 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $10.98, for a total transaction of $87,894.90. Following the transaction, the director now owns 5,414,994 shares of the company’s stock, valued at $59,456,634.12. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Hagerty Price Performance

Hagerty stock traded up $0.02 during mid-day trading on Monday, hitting $11.00. 75,200 shares of the company were exchanged, compared to its average volume of 84,402. Hagerty, Inc. has a 12-month low of $7.52 and a 12-month high of $11.47. The company has a market capitalization of $3.70 billion, a P/E ratio of 183.03 and a beta of 0.80. The business’s 50 day simple moving average is $10.28 and its two-hundred day simple moving average is $9.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.47 and a quick ratio of 1.47.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $271.71 million for the quarter, compared to analyst estimates of $264.32 million. Hagerty had a return on equity of 6.35% and a net margin of 1.82%. Analysts forecast that Hagerty, Inc. will post 0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hagerty

Hedge funds have recently modified their holdings of the company. Confluence Investment Management LLC acquired a new position in shares of Hagerty in the first quarter valued at approximately $3,473,000. MeadowBrook Investment Advisors LLC purchased a new stake in Hagerty in the 4th quarter worth approximately $132,000. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in Hagerty by 34.7% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after acquiring an additional 26,600 shares during the last quarter. Blue Trust Inc. purchased a new position in shares of Hagerty during the 4th quarter worth $57,000. Finally, Fenimore Asset Management Inc. lifted its stake in shares of Hagerty by 0.8% during the 4th quarter. Fenimore Asset Management Inc. now owns 945,286 shares of the company’s stock worth $7,373,000 after purchasing an additional 7,600 shares during the period. 20.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their price target on shares of Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a research 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.