Robert I. Kauffman Sells 3,465 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,465 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $9.02, for a total transaction of $31,254.30. Following the transaction, the director now owns 3,424,072 shares in the company, valued at approximately $30,885,129.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Hagerty Stock Performance

HGTY opened at $8.65 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. The company’s fifty day moving average price is $8.74 and its two-hundred day moving average price is $8.32. Hagerty, Inc. has a 1-year low of $7.52 and a 1-year high of $10.36. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 123.57 and a beta of 0.77.

Hagerty (NYSE:HGTY) last released its quarterly earnings data on Tuesday, March 12th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Hagerty had a net margin of 1.84% and a return on equity of 4.53%. The firm had revenue of $245.04 million for the quarter, compared to the consensus estimate of $245.17 million. On average, analysts expect that Hagerty, Inc. will post 0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Confluence Investment Management LLC acquired a new position in Hagerty during the first quarter worth $3,473,000. Goldman Sachs Group Inc. grew its stake in shares of Hagerty by 18.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 20,479 shares of the company’s stock worth $160,000 after acquiring an additional 3,261 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Hagerty in the 4th quarter worth $182,000. Barclays PLC grew its stake in shares of Hagerty by 19.8% in the 4th quarter. Barclays PLC now owns 32,135 shares of the company’s stock worth $250,000 after acquiring an additional 5,320 shares in the last quarter. Finally, Vident Advisory LLC grew its stake in shares of Hagerty by 13.2% in the 4th quarter. Vident Advisory LLC now owns 16,496 shares of the company’s stock worth $129,000 after acquiring an additional 1,920 shares in the last quarter. Institutional investors and hedge funds own 20.51% of the company’s stock.

Analysts Set New Price Targets

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