Hagerty, Inc. (NYSE:HGTY) Director Sells $148,429.36 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 13,324 shares of Hagerty stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $11.14, for a total value of $148,429.36. Following the completion of the sale, the director now owns 5,506,600 shares in the company, valued at approximately $61,343,524. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hagerty Trading Up 1.9 %

Shares of NYSE HGTY traded up $0.21 during trading on Thursday, reaching $11.41. The stock had a trading volume of 92,132 shares, compared to its average volume of 84,150. Hagerty, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $11.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.47 and a current ratio of 1.47. The business’s 50-day moving average price is $9.77 and its 200-day moving average price is $8.92. The company has a market cap of $3.84 billion, a P/E ratio of 190.20 and a beta of 0.80.

Hagerty (NYSE:HGTY) last released its earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. Hagerty had a return on equity of 6.35% and a net margin of 1.82%. The firm had revenue of $271.71 million during the quarter, compared to analysts’ expectations of $264.32 million. On average, equities research analysts predict that Hagerty, Inc. will post 0.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. acquired a new position in shares of Hagerty during the 4th quarter worth about $57,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Hagerty in the 4th quarter valued at about $132,000. Meixler Investment Management Ltd. lifted its holdings in shares of Hagerty by 21.2% in the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock valued at $223,000 after purchasing an additional 4,250 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in shares of Hagerty by 34.7% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after purchasing an additional 26,600 shares during the last quarter. Finally, Lincoln Capital LLC lifted its holdings in shares of Hagerty by 18.0% in the 4th quarter. Lincoln Capital LLC now owns 328,763 shares of the company’s stock valued at $2,593,000 after purchasing an additional 50,140 shares during the last quarter. 20.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lifted their price objective on Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday.

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.