Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 12,044 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 12,044 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $9.72, for a total transaction of $117,067.68. Following the completion of the transaction, the director now directly owns 3,979,794 shares in the company, valued at approximately $38,683,597.68. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Hagerty Trading Up 1.1%

Shares of HGTY opened at $9.79 on Tuesday. Hagerty, Inc. has a 1-year low of $8.03 and a 1-year high of $12.35. The company has a market capitalization of $3.35 billion, a P/E ratio of 89.00 and a beta of 0.88. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50 day simple moving average is $9.02 and its 200 day simple moving average is $9.90.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.06. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. The firm had revenue of $319.59 million for the quarter, compared to analysts’ expectations of $299.92 million. During the same quarter last year, the company posted $0.04 EPS. Sell-side analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their target price on Hagerty from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th.

Institutional Investors Weigh In On Hagerty

Hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its position in shares of Hagerty by 35.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock valued at $100,000 after purchasing an additional 2,726 shares during the last quarter. Swiss National Bank boosted its stake in Hagerty by 6.0% in the fourth quarter. Swiss National Bank now owns 53,000 shares of the company’s stock worth $511,000 after buying an additional 3,000 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Hagerty during the fourth quarter valued at approximately $31,000. Garde Capital Inc. grew its position in Hagerty by 4.0% during the fourth quarter. Garde Capital Inc. now owns 103,960 shares of the company’s stock valued at $1,003,000 after acquiring an additional 3,960 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Hagerty by 7.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,205 shares of the company’s stock worth $620,000 after acquiring an additional 4,575 shares in the last quarter. Institutional investors own 20.51% of the company’s stock.

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.