Insider Selling: Hagerty (NYSE:HGTY) Director Sells $64,805.62 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert Kauffman sold 5,506 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $11.77, for a total transaction of $64,805.62. Following the completion of the sale, the director directly owned 1,181,436 shares in the company, valued at approximately $13,905,501.72. This represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Hagerty Trading Down 1.0%

Shares of Hagerty stock opened at $12.01 on Friday. The company has a fifty day simple moving average of $11.48 and a 200-day simple moving average of $10.15. Hagerty, Inc. has a 12-month low of $8.03 and a 12-month high of $13.32. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.27. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 60.05 and a beta of 0.92.

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

Institutional Trading of Hagerty

A number of large investors have recently bought and sold shares of HGTY. IFP Advisors Inc acquired a new stake in Hagerty during the 2nd quarter worth $30,000. Osaic Holdings Inc. lifted its stake in shares of Hagerty by 2,374.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock worth $50,000 after acquiring an additional 4,749 shares during the period. Bank of America Corp DE lifted its stake in shares of Hagerty by 46.6% in the 2nd quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock worth $87,000 after acquiring an additional 2,726 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Hagerty in the 1st quarter worth $93,000. Finally, KLP Kapitalforvaltning AS lifted its stake in shares of Hagerty by 228.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock worth $106,000 after acquiring an additional 7,300 shares during the period. Institutional investors and hedge funds own 20.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Hagerty in a report on Monday, September 22nd. They issued a “market perform” rating and a $13.00 target price for the company. JMP Securities assumed coverage on shares of Hagerty in a report on Wednesday. They issued a “market outperform” rating and a $15.00 target price for the company. Wells Fargo & Company assumed coverage on shares of Hagerty in a report on Friday. They issued an “equal weight” rating and a $13.00 target price for the company. Evercore ISI assumed coverage on shares of Hagerty in a research note on Wednesday, August 27th. They set an “outperform” rating and a $14.00 price target for the company. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Hagerty in a research note on Wednesday, August 27th. They set an “outperform” rating and a $14.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.63.

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.