Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 5,010 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 5,010 shares of Hagerty stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $10.73, for a total transaction of $53,757.30. Following the completion of the transaction, the director now owns 5,037,217 shares in the company, valued at approximately $54,049,338.41. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Hagerty Stock Performance

NYSE HGTY traded up $0.15 during trading hours on Friday, hitting $10.92. 99,031 shares of the stock were exchanged, compared to its average volume of 78,346. Hagerty, Inc. has a 12-month low of $7.63 and a 12-month high of $12.35. The stock has a 50-day moving average of $10.95 and a 200 day moving average of $10.35. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 91.00 and a beta of 0.79. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HGTY. Blue Trust Inc. purchased a new stake in shares of Hagerty in the 2nd quarter worth about $39,000. Algert Global LLC acquired a new stake in Hagerty during the 2nd quarter valued at $108,000. Dimensional Fund Advisors LP purchased a new position in Hagerty during the second quarter worth $139,000. Lakewood Asset Management LLC acquired a new position in shares of Hagerty in the third quarter worth $186,000. Finally, Goldstone Financial Group LLC purchased a new stake in shares of Hagerty in the third quarter valued at $236,000. 20.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Hagerty from $9.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Truist Financial upped their price target on Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a research note 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.