Robert I. Kauffman Sells 3,036 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,036 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $9.07, for a total value of $27,536.52. Following the completion of the transaction, the director now owns 3,421,036 shares in the company, valued at $31,028,796.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Hagerty Price Performance

NYSE:HGTY opened at $8.76 on Friday. The company has a market capitalization of $2.94 billion, a P/E ratio of 125.14 and a beta of 0.77. The business’s 50-day moving average is $8.80 and its 200 day moving average is $8.36. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. Hagerty, Inc. has a 12 month low of $7.52 and a 12 month high of $10.36.

Hagerty (NYSE:HGTY) last posted its earnings results on Tuesday, March 12th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $245.04 million during the quarter, compared to analyst estimates of $245.17 million. Hagerty had a net margin of 1.84% and a return on equity of 4.53%. On average, equities research analysts forecast that Hagerty, Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in shares of Hagerty by 227.0% in the 2nd quarter. Barclays PLC now owns 6,474 shares of the company’s stock worth $61,000 after purchasing an additional 4,494 shares during the period. Blue Trust Inc. bought a new position in Hagerty during the 4th quarter valued at about $57,000. Commonwealth Equity Services LLC lifted its stake in Hagerty by 14.6% in the third quarter. Commonwealth Equity Services LLC now owns 12,944 shares of the company’s stock worth $106,000 after purchasing an additional 1,650 shares during the last quarter. Corton Capital Inc. purchased a new position in shares of Hagerty during the third quarter valued at approximately $133,000. Finally, MeadowBrook Investment Advisors LLC bought a new position in shares of Hagerty during the fourth quarter valued at approximately $132,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. initiated coverage on shares of Hagerty in a research report on Thursday, January 11th. They set a “neutral” rating and a $9.00 price objective on the 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.