Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 3,083 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,083 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $10.47, for a total value of $32,279.01. Following the completion of the transaction, the director now directly owns 5,071,388 shares of the company’s stock, valued at approximately $53,097,432.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Hagerty Trading Down 1.0 %

Shares of NYSE:HGTY opened at $10.50 on Tuesday. The business’s 50-day moving average is $11.02 and its 200 day moving average is $10.26. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. Hagerty, Inc. has a 1 year low of $7.52 and a 1 year high of $12.35. The firm has a market capitalization of $3.53 billion, a P/E ratio of 174.50 and a beta of 0.79.

Hagerty (NYSE:HGTY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. The firm had revenue of $313.23 million during 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%. On average, research analysts predict that Hagerty, Inc. will post 0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hagerty

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Hagerty by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock worth $18,559,000 after acquiring an additional 21,331 shares during the last quarter. Meixler Investment Management Ltd. increased its holdings in shares of Hagerty by 21.2% in the first quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock valued at $223,000 after purchasing an additional 4,250 shares during the period. Lakewood Asset Management LLC purchased a new position in shares of Hagerty in the third quarter worth about $186,000. Dimensional Fund Advisors LP acquired a new stake in shares of Hagerty during the second quarter worth about $139,000. Finally, Blue Trust Inc. boosted its position in Hagerty by 178.6% in the third quarter. Blue Trust Inc. now owns 10,542 shares of the company’s stock valued at $110,000 after buying an additional 6,758 shares during the last quarter. 20.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.