Robert I. Kauffman Sells 1,441 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 1,441 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $10.47, for a total value of $15,087.27. Following the sale, the director now owns 5,062,312 shares of the company’s stock, valued at $53,002,406.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Hagerty Stock Performance

NYSE HGTY opened at $10.31 on Friday. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 171.83 and a beta of 0.79. Hagerty, Inc. has a twelve month low of $7.52 and a twelve month high of $12.35. The stock has a fifty day simple moving average of $11.00 and a 200 day simple moving average of $10.30. 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 issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. Hagerty had a return on equity of 15.68% and a net margin of 5.37%. The company had revenue of $313.23 million during the quarter, compared to the consensus estimate of $312.64 million. Sell-side analysts expect that Hagerty, Inc. will post 0.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on HGTY shares. Truist Financial boosted their target price on Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. 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 report on Thursday, July 11th.

Institutional Investors Weigh In On Hagerty

A number of institutional investors have recently modified their holdings of HGTY. Blue Trust Inc. acquired a new position in Hagerty in the second quarter valued at $39,000. Algert Global LLC bought a new position in shares of Hagerty in the 2nd quarter worth about $108,000. Dimensional Fund Advisors LP acquired a new position in shares of Hagerty in the 2nd quarter valued at about $139,000. Lakewood Asset Management LLC bought a new stake in shares of Hagerty during the 3rd quarter valued at about $186,000. Finally, Meixler Investment Management Ltd. grew its stake in Hagerty by 21.2% during the first quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after purchasing an additional 4,250 shares during the period. 20.51% of the stock is owned by institutional investors.

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.