Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 7,239 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 7,239 shares of Hagerty stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $9.68, for a total transaction of $70,073.52. Following the transaction, the director now directly owns 3,991,838 shares of the company’s stock, valued at approximately $38,640,991.84. This trade represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Hagerty Stock Down 1.9%

HGTY stock opened at $9.65 on Thursday. The stock has a market capitalization of $3.29 billion, a P/E ratio of 87.73 and a beta of 0.88. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $12.35. The firm has a 50-day simple moving average of $9.00 and a 200-day simple moving average of $9.93. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23.

Hagerty (NYSE:HGTY) last released its earnings results 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. The business had revenue of $319.59 million for the quarter, compared to the consensus estimate of $299.92 million. Hagerty had a return on equity of 12.06% and a net margin of 5.27%. During the same quarter last year, the business posted $0.04 earnings per share. Equities 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. dropped their price objective on Hagerty from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th.

Hedge Funds Weigh In On Hagerty

A number of institutional investors have recently bought and sold shares of HGTY. Markel Group Inc. raised its position in shares of Hagerty by 3.6% during the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock valued at $29,992,000 after buying an additional 108,000 shares during the period. Raymond James Financial Inc. acquired a new stake in Hagerty during the fourth quarter worth $879,000. Lincoln Capital LLC lifted its stake in shares of Hagerty by 6.7% in the 4th quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock valued at $4,772,000 after purchasing an additional 31,068 shares during the last quarter. Pembroke Management LTD purchased a new position in shares of Hagerty during the 4th quarter worth $9,201,000. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Hagerty by 35.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock worth $100,000 after acquiring an additional 2,726 shares during the period. 20.51% of the stock is owned by hedge funds and other institutional investors.

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.