Hagerty, Inc. (NYSE:HGTY) Director Sells $29,750.64 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,291 shares of Hagerty stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $9.04, for a total value of $29,750.64. Following the completion of the transaction, the director now owns 3,415,676 shares of the company’s stock, valued at approximately $30,877,711.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Hagerty Stock Performance

Shares of HGTY opened at $9.24 on Thursday. Hagerty, Inc. has a 12 month low of $7.52 and a 12 month high of $10.01. The firm has a market cap of $3.10 billion, a PE ratio of 132.00 and a beta of 0.77. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average price of $8.88 and a 200-day moving average price of $8.42.

Hagerty (NYSE:HGTY) last issued its earnings results on Tuesday, March 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). Hagerty had a net margin of 1.84% and a return on equity of 4.53%. The firm had revenue of $245.04 million during the quarter, compared to analysts’ expectations of $245.17 million. Equities research analysts predict that Hagerty, Inc. will post 0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. initiated coverage on Hagerty in a research report on Thursday, January 11th. They issued a “neutral” rating and a $9.00 price objective on the stock.

Hedge Funds Weigh In On Hagerty

A number of institutional investors and hedge funds have recently modified their holdings of HGTY. Blue Trust Inc. acquired a new position in Hagerty in the 4th quarter valued at about $57,000. Commonwealth Equity Services LLC increased its holdings in shares of Hagerty by 14.6% in the third quarter. Commonwealth Equity Services LLC now owns 12,944 shares of the company’s stock valued at $106,000 after purchasing an additional 1,650 shares during the period. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Hagerty during the fourth quarter worth approximately $132,000. Corton Capital Inc. purchased a new position in Hagerty in the 3rd quarter valued at $133,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Hagerty in the third quarter valued at about $147,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

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.