Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 31,869 Shares

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 31,869 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $10.19, for a total transaction of $324,745.11. Following the sale, the director directly owned 3,356,383 shares in the company, valued at approximately $34,201,542.77. This represents a 0.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hagerty Trading Up 3.1%

HGTY traded up $0.32 during mid-day trading on Thursday, reaching $10.60. The stock had a trading volume of 218,111 shares, compared to its average volume of 70,176. The firm's fifty day simple moving average is $9.83 and its two-hundred day simple moving average is $9.55. The stock has a market capitalization of $3.62 billion, a P/E ratio of 52.98 and a beta of 0.90. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $12.35. 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 issued its earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.06. The company had revenue of $319.59 million for the quarter, compared to analyst estimates of $299.92 million. Hagerty had a net margin of 4.73% and a return on equity of 13.55%. During the same quarter last year, the firm earned $0.04 EPS. On average, equities analysts predict that Hagerty, Inc. will post 0.22 EPS for the current year.

Hedge Funds Weigh In On Hagerty

Hedge funds and other institutional investors have recently bought and sold shares of the business. IFP Advisors Inc bought a new position in shares of Hagerty in the 2nd quarter worth $30,000. KLP Kapitalforvaltning AS boosted its position in shares of Hagerty by 228.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company's stock worth $106,000 after purchasing an additional 7,300 shares during the last quarter. Lincoln Capital LLC boosted its position in shares of Hagerty by 9.4% in the 2nd quarter. Lincoln Capital LLC now owns 607,309 shares of the company's stock worth $6,140,000 after purchasing an additional 52,023 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Hagerty by 24.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company's stock worth $338,000 after purchasing an additional 7,459 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings 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 buying an additional 743,597 shares during the last quarter. 20.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. decreased their price target on shares of 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.

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