Robert I. Kauffman Sells 3,913 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTYGet Free Report) Director Robert I. Kauffman sold 3,913 shares of Hagerty stock in a transaction on Friday, September 27th. The stock was sold at an average price of $10.46, for a total transaction of $40,929.98. Following the transaction, the director now directly owns 5,140,538 shares in the company, valued at $53,770,027.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hagerty Trading Up 2.1 %

NYSE HGTY opened at $10.38 on Wednesday. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 173.00 and a beta of 0.81. Hagerty, Inc. has a one year low of $7.52 and a one year high of $12.35. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. The business’s fifty day moving average is $11.08 and its 200-day moving average is $10.11.

Hagerty (NYSE:HGTYGet Free Report) last released its earnings results on Tuesday, August 6th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates 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%. Equities research analysts predict that Hagerty, Inc. will post 0.26 EPS for the current year.

Institutional Investors Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HGTY. Blue Trust Inc. bought a new stake in Hagerty in the 2nd quarter valued at about $39,000. Algert Global LLC bought a new stake in Hagerty in the 2nd quarter valued at about $108,000. Dimensional Fund Advisors LP bought a new stake in Hagerty in the 2nd quarter valued at about $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. raised its stake in 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 acquiring an additional 26,600 shares during the period. 20.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HGTY has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Hagerty from $9.50 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Truist Financial lifted their target price on Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th.

View Our Latest Stock Analysis on HGTY

About Hagerty

(Get Free Report)

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.

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