Insider Selling: Hagerty (NYSE:HGTY) Director Sells $150,426.74 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert Kauffman sold 12,391 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $12.14, for a total transaction of $150,426.74. Following the sale, the director owned 1,011,134 shares in the company, valued at approximately $12,275,166.76. This represents a 1.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Hagerty Trading Down 1.3%

HGTY stock opened at $11.30 on Friday. The company’s 50-day simple moving average is $11.77 and its 200-day simple moving average is $10.35. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.27. Hagerty, Inc. has a 52-week low of $8.03 and a 52-week high of $13.32. The firm has a market cap of $3.86 billion, a P/E ratio of 56.48 and a beta of 0.92.

Hagerty (NYSE:HGTY) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. The firm had revenue of $368.70 million during the quarter, compared to analyst estimates of $347.15 million. Hagerty had a return on equity of 13.76% and a net margin of 4.88%. Hagerty has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Hagerty

A number of large investors have recently modified their holdings of HGTY. Greenhaven Road Investment Management L.P. raised its position in shares of Hagerty by 10.1% in the first quarter. Greenhaven Road Investment Management L.P. now owns 1,360,506 shares of the company’s stock valued at $12,299,000 after buying an additional 124,336 shares during the last quarter. Garner Asset Management Corp acquired a new position in Hagerty during the first quarter worth about $2,909,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Hagerty during the 1st quarter valued at about $93,000. Swiss National Bank raised its holdings in Hagerty by 15.3% in the 1st quarter. Swiss National Bank now owns 61,100 shares of the company’s stock valued at $552,000 after acquiring an additional 8,100 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Hagerty by 4.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,768 shares of the company’s stock worth $1,291,000 after purchasing an additional 5,667 shares in the last quarter. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Analyst Upgrades and Downgrades

HGTY has been the subject of several research analyst reports. BMO Capital Markets assumed coverage on Hagerty in a research note on Monday, September 22nd. They set a “market perform” rating and a $13.00 target price for the company. Citizens Jmp started coverage on shares of Hagerty in a research report on Wednesday, October 1st. They set a “mkt outperform” rating and a $15.00 price objective for the company. Citigroup started coverage on shares of Hagerty in a report on Wednesday, October 1st. They set an “outperform” rating on the stock. JPMorgan Chase & Co. lifted their target price on shares of Hagerty from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Finally, Evercore ISI started coverage on shares of Hagerty in a research report on Wednesday, August 27th. They set an “outperform” rating and a $14.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.88.

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.