Robert I. Kauffman Sells 3,040 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,040 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $10.72, for a total transaction of $32,588.80. Following the completion of the sale, the director now directly owns 5,080,626 shares of the company’s stock, valued at $54,464,310.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Hagerty Stock Performance

Hagerty stock opened at $10.64 on Friday. Hagerty, Inc. has a 52 week low of $7.52 and a 52 week high of $12.35. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.58 billion, a P/E ratio of 177.33 and a beta of 0.79. The stock has a 50 day moving average of $11.02 and a 200-day moving average of $10.23.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 EPS for the quarter, beating 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 net margin of 5.37% and a return on equity of 15.68%. On average, analysts expect that Hagerty, Inc. will post 0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Hagerty

A number of hedge funds have recently bought and sold shares of the company. Lakewood Asset Management LLC acquired a new stake in Hagerty during the third quarter valued at approximately $186,000. Algert Global LLC acquired a new stake in shares of Hagerty during the 2nd quarter valued at approximately $108,000. Dimensional Fund Advisors LP bought a new position in Hagerty during the second quarter worth $139,000. Blue Trust Inc. bought a new position in Hagerty during the second quarter worth $39,000. Finally, Vanguard Group Inc. boosted its holdings 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 purchasing an additional 21,331 shares during the period. 20.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Truist Financial raised their price target on shares of Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th.

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.