Hagerty, Inc. (NYSE:HGTY) Director Sells $324,745.11 in Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 31,869 shares of Hagerty stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $10.19, for a total transaction of $324,745.11. Following the completion of the sale, the director owned 3,356,383 shares of the company's stock, valued at $34,201,542.77. This trade represents a 0.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Hagerty Stock Performance

NYSE HGTY traded up $0.06 on Monday, reaching $10.81. The stock had a trading volume of 47,465 shares, compared to its average volume of 88,278. The business's 50-day moving average price is $9.91 and its 200 day moving average price is $9.58. The stock has a market cap of $3.69 billion, a P/E ratio of 54.05 and a beta of 0.90. Hagerty, Inc. has a 12-month low of $8.03 and a 12-month 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 posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, beating 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 firm had revenue of $319.59 million during the quarter, compared to the consensus estimate of $299.92 million. During the same period in the prior year, the business earned $0.04 EPS. As a group, equities analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently bought and sold shares of HGTY. IFP Advisors Inc acquired a new stake in shares of Hagerty in the 2nd quarter valued at approximately $30,000. KLP Kapitalforvaltning AS purchased a new position in Hagerty in the fourth quarter worth $31,000. Ancora Advisors LLC purchased a new position in Hagerty in the fourth quarter worth $46,000. BNP Paribas Financial Markets acquired a new stake in Hagerty in the fourth quarter valued at $84,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Hagerty during the 1st quarter worth $93,000. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. cut their target price 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.

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.