Hagerty, Inc. (NYSE:HGTY) Director Sells $26,670.75 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 2,481 shares of Hagerty stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $10.75, for a total value of $26,670.75. Following the completion of the sale, the director now directly owns 5,154,354 shares in the company, valued at approximately $55,409,305.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Hagerty Trading Down 0.9 %

Shares of Hagerty stock opened at $10.43 on Friday. The stock has a market cap of $3.56 billion, a P/E ratio of 173.86 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, Inc. has a 12-month low of $7.52 and a 12-month high of $12.35. The business’s 50 day moving average is $11.12 and its 200-day moving average is $10.07.

Hagerty (NYSE:HGTY) last posted its quarterly 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 firm had revenue of $313.23 million for the quarter, compared to analyst estimates of $312.64 million. Hagerty had a net margin of 5.37% and a return on equity of 15.68%. Equities research analysts predict that Hagerty, Inc. will post 0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hagerty

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. acquired a new position in Hagerty during the second quarter worth approximately $39,000. Algert Global LLC acquired a new position in shares of Hagerty during the 2nd quarter worth approximately $108,000. Dimensional Fund Advisors LP acquired a new position in shares of Hagerty during the 2nd quarter worth approximately $139,000. Meixler Investment Management Ltd. raised its stake in 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 acquiring an additional 4,250 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in Hagerty by 34.7% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock worth $806,000 after purchasing an additional 26,600 shares during the period. 20.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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