Robert I. Kauffman Sells 3,821 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,821 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $11.20, for a total transaction of $42,795.20. Following the transaction, the director now directly owns 5,164,557 shares in the company, valued at approximately $57,843,038.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Hagerty Price Performance

Shares of Hagerty stock opened at $10.66 on Friday. The company’s fifty day simple moving average is $11.17 and its two-hundred day simple moving average is $10.02. Hagerty, Inc. has a 12-month low of $7.52 and a 12-month high of $12.35. The firm has a market cap of $3.59 billion, a PE ratio of 177.67 and a beta of 0.81. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22.

Hagerty (NYSE:HGTY) last posted its earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. The company had revenue of $313.23 million for the quarter, compared to analysts’ expectations of $312.64 million. Hagerty had a return on equity of 15.68% and a net margin of 5.37%. As a group, equities analysts expect that Hagerty, Inc. will post 0.26 EPS for the current year.

Hedge Funds Weigh In On Hagerty

Several hedge funds have recently made changes to their positions in the business. Blue Trust Inc. purchased a new stake in Hagerty in the second quarter worth $39,000. Algert Global LLC bought a new position in Hagerty in the 2nd quarter worth $108,000. Dimensional Fund Advisors LP purchased a new stake in shares of Hagerty in the 2nd quarter worth about $139,000. Meixler Investment Management Ltd. boosted its stake in shares of Hagerty by 21.2% during 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 in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of Hagerty by 34.7% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after buying an additional 26,600 shares during the period. 20.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HGTY. Truist Financial raised their price objective on Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th.

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.