Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 5,044 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 5,044 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $9.70, for a total value of $48,926.80. Following the completion of the transaction, the director now directly owns 4,361,998 shares in the company, valued at approximately $42,311,380.60. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Hagerty Stock Performance

Shares of NYSE HGTY opened at $9.79 on Friday. The stock has a market cap of $3.34 billion, a PE ratio of 89.02 and a beta of 0.86. Hagerty, Inc. has a 1 year low of $7.82 and a 1 year high of $12.35. The firm has a fifty day moving average price of $10.49 and a 200-day moving average price of $10.82. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01.

Hagerty (NYSE:HGTY) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The business had revenue of $323.37 million for the quarter, compared to the consensus estimate of $318.07 million. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. During the same period in the prior year, the business earned $0.05 earnings per share. Equities analysts anticipate that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Raymond James downgraded Hagerty from a “market perform” rating to an “underperform” rating in a research note on Thursday, December 26th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP bought a new position in shares of Hagerty during the second quarter worth $139,000. Algert Global LLC bought a new position in shares of Hagerty during the 2nd quarter valued at about $108,000. Lakewood Asset Management LLC bought a new stake in shares of Hagerty in the third quarter worth about $186,000. Blue Trust Inc. lifted its position in shares of Hagerty by 178.6% in the third quarter. Blue Trust Inc. now owns 10,542 shares of the company’s stock worth $110,000 after buying an additional 6,758 shares in the last quarter. Finally, Goldstone Financial Group LLC bought a new position in Hagerty during the third quarter valued at approximately $236,000. 20.51% of the stock is currently owned by institutional investors.

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.