Robert I. Kauffman Sells 3,100 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 3,100 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $10.19, for a total value of $31,589.00. Following the completion of the transaction, the director directly owned 3,671,635 shares in the company, valued at approximately $37,413,960.65. This represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Hagerty Price Performance

NYSE:HGTY traded up $0.01 during trading hours on Wednesday, reaching $10.10. The stock had a trading volume of 144,566 shares, compared to its average volume of 72,965. 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, Inc. has a 52 week low of $8.03 and a 52 week high of $12.35. The company has a 50 day moving average price of $9.71 and a two-hundred day moving average price of $9.54. The stock has a market capitalization of $3.45 billion, a PE ratio of 50.50 and a beta of 0.90.

Hagerty (NYSE:HGTY - Get Free Report) last released its 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. The firm had revenue of $319.59 million for the quarter, compared to the consensus estimate of $299.92 million. Hagerty had a return on equity of 13.55% and a net margin of 4.73%. During the same quarter in the previous year, the company posted $0.04 EPS. As a group, sell-side analysts anticipate that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hagerty

Several hedge funds have recently made changes to their positions in HGTY. Goldman Sachs Group Inc. increased its position in Hagerty by 24.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company's stock valued at $338,000 after buying an additional 7,459 shares in the last quarter. Lincoln Capital LLC increased its holdings in shares of Hagerty by 12.3% in the first quarter. Lincoln Capital LLC now owns 555,286 shares of the company's stock valued at $4,753,000 after purchasing an additional 60,791 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Hagerty by 15.7% during the first quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company's stock worth $49,438,000 after acquiring an additional 743,597 shares during the last quarter. Virtu Financial LLC acquired a new stake in Hagerty during the first quarter worth $108,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Hagerty by 4.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,768 shares of the company's stock worth $1,291,000 after acquiring an additional 5,667 shares during the last quarter. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their price objective on Hagerty from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 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.