Robert I. Kauffman Sells 2,481 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 2,481 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $10.75, for a total transaction of $26,670.75. Following the completion of the transaction, the director now directly owns 5,154,354 shares in the company, valued at approximately $55,409,305.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Hagerty Trading Down 0.8 %

HGTY stock opened at $10.51 on Friday. Hagerty, Inc. has a one year low of $7.52 and a one year high of $12.35. The company has a market capitalization of $3.58 billion, a PE ratio of 175.20 and a beta of 0.81. The company’s 50 day moving average price is $11.13 and its two-hundred day moving average price is $10.06. 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 (NYSE:HGTY) last released its earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The company had revenue of $313.23 million during the quarter, compared to analyst estimates of $312.64 million. Hagerty had a return on equity of 15.68% and a net margin of 5.37%. As a group, analysts predict that Hagerty, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on HGTY. JPMorgan Chase & Co. increased their target price on Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Truist Financial upped their price objective on Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Thursday, August 8th.

Institutional Investors Weigh In On Hagerty

Several institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new position in shares of Hagerty in the second quarter valued at about $39,000. Algert Global LLC purchased a new position in Hagerty during the 2nd quarter valued at about $108,000. Dimensional Fund Advisors LP purchased a new position in Hagerty during the 2nd quarter valued at about $139,000. Meixler Investment Management Ltd. raised its position in Hagerty by 21.2% during the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock valued at $223,000 after purchasing an additional 4,250 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. lifted 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 worth $806,000 after buying an additional 26,600 shares during the period. Hedge funds and other 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.