Robert Kauffman Sells 22,629 Shares of Hagerty (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert Kauffman sold 22,629 shares of the company’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $12.00, for a total value of $271,548.00. Following the completion of the transaction, the director owned 1,079,049 shares of the company’s stock, valued at $12,948,588. The trade was a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Hagerty Price Performance

HGTY opened at $11.68 on Friday. The stock has a 50-day moving average price of $11.65 and a 200-day moving average price of $10.25. 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 capitalization of $3.99 billion, a P/E ratio of 58.40 and a beta of 0.92.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $368.70 million during the quarter, compared to analysts’ expectations 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. Equities analysts predict that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently made changes to their positions in HGTY. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Hagerty by 7.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,205 shares of the company’s stock valued at $620,000 after acquiring an additional 4,575 shares in the last quarter. Greenhaven Road Investment Management L.P. raised its holdings in shares of Hagerty by 10.1% during 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 acquiring an additional 124,336 shares in the last quarter. Garner Asset Management Corp bought a new position in shares of Hagerty during the first quarter valued at approximately $2,909,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Hagerty during the first quarter valued at about $93,000. Finally, Swiss National Bank increased its position in shares of Hagerty by 15.3% during the first quarter. Swiss National Bank now owns 61,100 shares of the company’s stock valued at $552,000 after buying an additional 8,100 shares during the period. Institutional investors own 20.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Hagerty from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday. BMO Capital Markets initiated coverage on Hagerty in a report on Monday, September 22nd. They issued a “market perform” rating and a $13.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Hagerty in a report on Wednesday. Wells Fargo & Company initiated coverage on Hagerty in a report on Friday, October 3rd. They issued an “equal weight” rating and a $13.00 price objective on the stock. Finally, Citigroup initiated coverage on shares of Hagerty in a report on Wednesday, October 1st. They issued an “outperform” rating on the stock. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average 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.