Hagerty, Inc. (NYSE:HGTY) Director Sells $170,229.16 in Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 16,972 shares of the company's stock in a transaction 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 sale, the director owned 3,459,085 shares of the company's stock, valued at $34,694,622.55. This trade represents a 0.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Hagerty Stock Up 0.4%

NYSE:HGTY traded up $0.04 on Friday, hitting $10.08. The stock had a trading volume of 77,246 shares, compared to its average volume of 72,041. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year high of $12.35. The firm's fifty day simple moving average is $9.81 and its two-hundred day simple moving average is $9.55. The stock has a market cap of $3.44 billion, a P/E ratio of 50.40 and a beta of 0.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.01.

Hagerty (NYSE:HGTY - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.06. Hagerty had a net margin of 4.73% and a return on equity of 13.55%. The company had revenue of $319.59 million during the quarter, compared to analyst estimates of $299.92 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. Analysts predict that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Trading of Hagerty

Several hedge funds have recently made changes to their positions in HGTY. Neuberger Berman Group LLC grew its stake in 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 buying an additional 743,597 shares in the last quarter. Garner Asset Management Corp bought a new position in Hagerty in the first quarter valued at $2,909,000. Greenhaven Road Investment Management L.P. raised its holdings in shares of 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 valued at $12,299,000 after buying an additional 124,336 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Hagerty in the fourth quarter worth $997,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Hagerty during the fourth quarter valued at approximately $879,000. 20.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their target price on shares of Hagerty from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th.

Hagerty Company Profile

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.