Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 7,000 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 7,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $11.28, for a total transaction of $78,960.00. Following the transaction, the director now owns 5,281,195 shares in the company, valued at approximately $59,571,879.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hagerty Stock Up 2.7 %

Hagerty stock opened at $11.99 on Tuesday. Hagerty, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $12.04. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.47 and a current ratio of 1.47. The firm’s 50-day simple moving average is $10.88 and its 200 day simple moving average is $9.64. The stock has a market cap of $4.04 billion, a PE ratio of 199.83 and a beta of 0.80.

Hagerty (NYSE:HGTY) last announced its earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 6.35% and a net margin of 1.82%. Research analysts predict that Hagerty, Inc. will post 0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HGTY. Confluence Investment Management LLC bought a new stake in shares of Hagerty during the 1st quarter worth $3,473,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in Hagerty by 34.7% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock worth $806,000 after buying an additional 26,600 shares during the last quarter. Vanguard Group Inc. raised its position in Hagerty by 1.1% in the first 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. MeadowBrook Investment Advisors LLC purchased a new position in Hagerty in the fourth quarter valued at about $132,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Hagerty during the 2nd quarter valued at approximately $139,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Analysts Set New Price Targets

HGTY has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on shares of Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a research 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 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.