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

Hagerty, Inc. (NYSE:HGTY) 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:HGTY) 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.

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.