Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 8,005 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 8,005 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $10.98, for a total transaction of $87,894.90. Following the sale, the director now directly owns 5,414,994 shares in the company, valued at approximately $59,456,634.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Hagerty Stock Performance

Shares of HGTY stock traded up $0.02 during mid-day trading on Monday, reaching $11.00. The stock had a trading volume of 75,200 shares, compared to its average volume of 84,402. Hagerty, Inc. has a 1-year low of $7.52 and a 1-year high of $11.47. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 183.03 and a beta of 0.80. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average is $10.28 and its 200-day moving average is $9.20.

Hagerty (NYSE:HGTY) last issued its earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Hagerty had a return on equity of 6.35% and a net margin of 1.82%. The firm had revenue of $271.71 million for the quarter, compared to analyst estimates of $264.32 million. On average, research analysts forecast that Hagerty, Inc. will post 0.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HGTY. Blue Trust Inc. purchased a new position in Hagerty during the second quarter valued at approximately $39,000. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Hagerty during the 4th quarter worth approximately $132,000. Meixler Investment Management Ltd. increased its holdings in shares of Hagerty by 21.2% during the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock valued at $223,000 after purchasing an additional 4,250 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in shares of Hagerty by 34.7% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after purchasing an additional 26,600 shares during the period. Finally, Confluence Investment Management LLC purchased a new stake in Hagerty during the first quarter worth $3,473,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their price objective on shares of Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, July 11th.

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.