Robert I. Kauffman Sells 3,291 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,291 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $9.04, for a total transaction of $29,750.64. Following the completion of the transaction, the director now directly owns 3,415,676 shares of the company’s stock, valued at $30,877,711.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Hagerty Stock Performance

Hagerty stock opened at $9.24 on Thursday. The business’s 50-day moving average price is $8.88 and its two-hundred day moving average price is $8.42. The company has a quick ratio of 1.48, a current 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 $10.01. The stock has a market cap of $3.10 billion, a PE ratio of 132.00 and a beta of 0.77.

Hagerty (NYSE:HGTY) last announced its earnings results on Tuesday, March 12th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $245.04 million during the quarter, compared to the consensus estimate of $245.17 million. Hagerty had a net margin of 1.84% and a return on equity of 4.53%. As a group, analysts expect that Hagerty, Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hagerty

Several large investors have recently made changes to their positions in HGTY. Blue Trust Inc. purchased a new position in Hagerty in the fourth quarter worth $57,000. Commonwealth Equity Services LLC boosted its stake in shares of Hagerty by 14.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,944 shares of the company’s stock valued at $106,000 after purchasing an additional 1,650 shares in the last quarter. MeadowBrook Investment Advisors LLC purchased a new position in shares of Hagerty during the 4th quarter worth approximately $132,000. Corton Capital Inc. bought a new position in Hagerty in the third quarter worth $133,000. Finally, Quadrature Capital Ltd bought a new position in shares of Hagerty in the 3rd quarter worth about $147,000. 20.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. assumed coverage on Hagerty in a research note on Thursday, January 11th. They issued a “neutral” rating and a $9.00 price target on the stock.

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.