Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 16,972 Shares

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 16,972 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $10.03, for a total value of $170,229.16. Following the transaction, the director directly owned 3,459,085 shares in the company, valued at approximately $34,694,622.55. This represents a 0.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Hagerty Stock Up 0.4%

Shares of NYSE:HGTY traded up $0.04 on Friday, reaching $10.08. The company had a trading volume of 77,246 shares, compared to its average volume of 72,041. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $12.35. The stock has a 50-day moving average price of $9.81 and a 200 day moving average price of $9.55. The stock has a market capitalization of $3.44 billion, a P/E ratio of 50.40 and a beta of 0.90. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.25.

Hagerty (NYSE:HGTY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.06. Hagerty had a return on equity of 13.55% and a net margin of 4.73%. The business had revenue of $319.59 million during the quarter, compared to analysts' expectations of $299.92 million. During the same quarter in the previous year, the firm earned $0.04 EPS. On average, equities analysts expect that Hagerty, Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. decreased their target price on Hagerty from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th.

Hedge Funds Weigh In On Hagerty

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC grew its stake in shares of Hagerty by 15.7% in the 1st quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company's stock valued at $49,438,000 after purchasing an additional 743,597 shares during the period. Garner Asset Management Corp bought a new stake in Hagerty during the 1st quarter worth approximately $2,909,000. Greenhaven Road Investment Management L.P. grew its position in Hagerty by 10.1% during the 1st quarter. Greenhaven Road Investment Management L.P. now owns 1,360,506 shares of the company's stock worth $12,299,000 after acquiring an additional 124,336 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Hagerty during the 4th quarter worth approximately $997,000. Finally, Raymond James Financial Inc. bought a new stake in Hagerty during the 4th quarter worth approximately $879,000. 20.51% of the stock is currently 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.