Robert I. Kauffman Sells 62,342 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 62,342 shares of Hagerty stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $11.21, for a total value of $698,853.82. Following the completion of the sale, the director now owns 4,757,757 shares of the company’s stock, valued at $53,334,455.97. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Hagerty Stock Performance

Hagerty stock opened at $11.51 on Friday. The business has a 50-day simple moving average of $10.83 and a two-hundred day simple moving average of $10.62. The company has a market cap of $3.93 billion, a P/E ratio of 104.64 and a beta of 0.78. Hagerty, Inc. has a 52-week low of $7.68 and a 52-week high of $12.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23.

Institutional Investors Weigh In On Hagerty

Large investors have recently made changes to their positions in the company. Blue Trust Inc. bought a new stake in shares of Hagerty during the 2nd quarter valued at about $39,000. FMR LLC lifted its position in shares of Hagerty by 25,769.2% during the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock valued at $68,000 after buying an additional 6,700 shares in the last quarter. Algert Global LLC purchased a new position in shares of Hagerty during the 2nd quarter valued at about $108,000. Dimensional Fund Advisors LP purchased a new position in shares of Hagerty during the 2nd quarter valued at about $139,000. Finally, PDT Partners LLC purchased a new position in shares of Hagerty during the 3rd quarter valued at about $185,000. 20.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Truist Financial lifted their price objective on Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Thursday, August 8th.

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.