Robert I. Kauffman Sells 3,693 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,693 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $9.86, for a total transaction of $36,412.98. Following the transaction, the director now directly owns 4,348,872 shares in the company, valued at approximately $42,879,877.92. This represents a 0.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hagerty Stock Down 0.6 %

Shares of Hagerty stock opened at $9.80 on Wednesday. The company’s 50 day moving average price is $10.43 and its 200-day moving average price is $10.79. Hagerty, Inc. has a 52-week low of $7.87 and a 52-week high of $12.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 89.10 and a beta of 0.86.

Hagerty (NYSE:HGTY) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The firm had revenue of $323.37 million during the quarter, compared to analysts’ expectations of $318.07 million. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. During the same quarter in the previous year, the firm posted $0.05 EPS. Equities research analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current year.

Institutional Investors Weigh In On Hagerty

Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP bought a new position in shares of Hagerty during the second quarter valued at approximately $139,000. Algert Global LLC purchased a new position in Hagerty during the 2nd quarter valued at $108,000. Lakewood Asset Management LLC bought a new position in Hagerty in the 3rd quarter worth $186,000. Blue Trust Inc. lifted its position in shares of Hagerty by 178.6% in the 3rd quarter. Blue Trust Inc. now owns 10,542 shares of the company’s stock worth $110,000 after purchasing an additional 6,758 shares during the period. Finally, Goldstone Financial Group LLC bought a new stake in shares of Hagerty during the 3rd quarter valued at about $236,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Raymond James cut Hagerty from a “market perform” rating to an “underperform” rating in a research note on Thursday, December 26th.

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.