Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 3,040 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,040 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $10.72, for a total value of $32,588.80. Following the transaction, the director now directly owns 5,080,626 shares of the company’s stock, valued at $54,464,310.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Hagerty Price Performance

Shares of NYSE:HGTY opened at $10.64 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $11.02 and its two-hundred day moving average is $10.23. The firm has a market capitalization of $3.58 billion, a P/E ratio of 177.33 and a beta of 0.79. Hagerty, Inc. has a 52 week low of $7.52 and a 52 week high of $12.35.

Hagerty (NYSE:HGTY) last announced its earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. The firm had revenue of $313.23 million for the quarter, compared to the consensus estimate of $312.64 million. Hagerty had a return on equity of 15.68% and a net margin of 5.37%. Analysts anticipate that Hagerty, Inc. will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On Hagerty

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Hagerty by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock worth $18,559,000 after acquiring an additional 21,331 shares during the period. Lakewood Asset Management LLC bought a new stake in Hagerty during the third quarter worth approximately $186,000. Dimensional Fund Advisors LP acquired a new stake in Hagerty in the second quarter worth approximately $139,000. Algert Global LLC bought a new position in Hagerty during the 2nd quarter valued at $108,000. Finally, Meixler Investment Management Ltd. increased its position in shares of 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 period. Institutional investors and hedge funds own 20.51% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on HGTY. JPMorgan Chase & Co. upped 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 boosted their price target on shares of Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a report on Thursday, August 8th.

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.