Insider Selling: Hagerty, Inc. (NYSE:HGTY) Director Sells 4,431 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 4,431 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $10.46, for a total value of $46,348.26. Following the completion of the transaction, the director now directly owns 5,108,221 shares in the company, valued at approximately $53,431,991.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hagerty Stock Performance

Hagerty stock traded up $0.07 during trading hours on Tuesday, reaching $10.52. 59,584 shares of the company were exchanged, compared to its average volume of 81,296. Hagerty, Inc. has a 12 month low of $7.52 and a 12 month high of $12.35. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 177.33 and a beta of 0.79. 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 50-day moving average of $11.04 and a 200 day moving average of $10.16.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data 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. The business had revenue of $313.23 million during 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%. As a group, research analysts anticipate that Hagerty, Inc. will post 0.26 earnings per share for the current year.

Institutional Investors Weigh In On Hagerty

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Confluence Investment Management LLC acquired a new stake in shares of Hagerty in the first quarter worth $3,473,000. Blue Trust Inc. bought a new stake in Hagerty in the 2nd quarter valued at $39,000. Vanguard Group Inc. grew its position in Hagerty by 1.1% in the 1st 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 last quarter. Lakewood Asset Management LLC bought a new position in shares of Hagerty during the 3rd quarter worth about $186,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Hagerty during the second quarter valued at about $139,000. 20.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.