Robert I. Kauffman Sells 3,348 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,348 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $10.60, for a total transaction of $35,488.80. Following the transaction, the director now directly owns 5,112,652 shares of the company’s stock, valued at $54,194,111.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Hagerty Price Performance

NYSE HGTY traded up $0.07 on Tuesday, hitting $10.52. The stock had a trading volume of 59,584 shares, compared to its average volume of 81,296. Hagerty, Inc. has a 52-week low of $7.52 and a 52-week high of $12.35. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 177.33 and a beta of 0.79. The firm has a 50-day moving average of $11.04 and a 200-day moving average of $10.16.

Hagerty (NYSE:HGTY) last posted its earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. Hagerty had a net margin of 5.37% and a return on equity of 15.68%. The business had revenue of $313.23 million for the quarter, compared to analysts’ expectations of $312.64 million. Equities analysts expect that Hagerty, Inc. will post 0.26 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Trading of Hagerty

Institutional investors and hedge funds have recently made changes to their positions in the stock. Confluence Investment Management LLC purchased a new stake in shares of Hagerty during the 1st quarter valued at $3,473,000. Blue Trust Inc. purchased a new stake in shares of Hagerty during the 2nd quarter valued at $39,000. Vanguard Group Inc. raised its position in shares of Hagerty by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock valued at $18,559,000 after buying an additional 21,331 shares in the last quarter. Lakewood Asset Management LLC purchased a new stake in shares of Hagerty during the 3rd quarter valued at $186,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Hagerty during the 2nd quarter valued at $139,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

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.