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

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,465 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $9.02, for a total transaction of $31,254.30. Following the completion of the transaction, the director now owns 3,424,072 shares of the company’s stock, valued at $30,885,129.44. The sale was disclosed in a document filed with the SEC, which is available through this link.

Hagerty Stock Performance

Shares of Hagerty stock opened at $8.65 on Thursday. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 123.57 and a beta of 0.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.48 and a quick ratio of 1.48. Hagerty, Inc. has a 1 year low of $7.52 and a 1 year high of $10.36. The firm’s 50-day moving average is $8.73 and its 200 day moving average is $8.32.

Hagerty (NYSE:HGTY) last issued its earnings results on Tuesday, March 12th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). Hagerty had a return on equity of 4.53% and a net margin of 1.84%. The business had revenue of $245.04 million for the quarter, compared to the consensus estimate of $245.17 million. Sell-side analysts anticipate that Hagerty, Inc. will post 0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Hagerty

Several hedge funds and other institutional investors have recently modified their holdings of the company. Deutsche Bank AG bought a new position in Hagerty in the 1st quarter worth $29,000. Tower Research Capital LLC TRC purchased a new stake in shares of Hagerty during the 3rd quarter worth approximately $41,000. Wells Fargo & Company MN lifted its position in Hagerty by 115.9% during the second quarter. Wells Fargo & Company MN now owns 4,466 shares of the company’s stock valued at $42,000 after purchasing an additional 2,397 shares during the last quarter. Blue Trust Inc. purchased a new position in shares of Hagerty in the 4th quarter worth approximately $57,000. Finally, Barclays PLC raised its holdings in Hagerty by 227.0% during the 2nd quarter. Barclays PLC now owns 6,474 shares of the company’s stock valued at $61,000 after buying an additional 4,494 shares during the period. 20.51% of the stock is owned by institutional investors.

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.