Robert I. Kauffman Sells 1,617 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTYGet Free Report) Director Robert I. Kauffman sold 1,617 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $9.00, for a total transaction of $14,553.00. Following the transaction, the director now owns 3,454,440 shares of the company’s stock, valued at approximately $31,089,960. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hagerty Stock Performance

NYSE:HGTY opened at $8.47 on Friday. Hagerty, Inc. has a 1 year low of $7.52 and a 1 year high of $10.36. The firm has a 50 day moving average of $8.29 and a 200-day moving average of $8.27. The company has a current ratio of 1.48, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $2.84 billion, a P/E ratio of 122.14 and a beta of 0.76.

Institutional Trading of Hagerty

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Deutsche Bank AG acquired a new position in shares of Hagerty in the 1st quarter valued at $29,000. Tower Research Capital LLC TRC acquired a new position in shares of Hagerty in the 3rd quarter valued at $41,000. Wells Fargo & Company MN grew its holdings in shares of Hagerty by 115.9% in the 2nd quarter. Wells Fargo & Company MN now owns 4,466 shares of the company’s stock valued at $42,000 after buying an additional 2,397 shares during the period. Blue Trust Inc. acquired a new position in shares of Hagerty in the 4th quarter valued at $57,000. Finally, Barclays PLC grew its holdings in shares of Hagerty by 227.0% in the 2nd quarter. Barclays PLC now owns 6,474 shares of the company’s stock valued at $61,000 after buying an additional 4,494 shares during the period. Institutional investors and hedge funds own 20.79% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. began coverage on shares of Hagerty in a research note on Thursday, January 11th. They issued a “neutral” rating and a $9.00 target price for the company.

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About Hagerty

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Hagerty, Inc provides insurance agency services worldwide. It offers motor vehicle and boat insurance products; and reinsurance products. The company also 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; HVT, a valuation tool used by the customer to access current and historic pricing data of collector vehicle models; and Hagerty Events, an eclectic mix of small and large events.

Further Reading

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