Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 4,010 Shares

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 4,010 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $9.54, for a total transaction of $38,255.40. Following the completion of the sale, the director now directly owns 3,804,061 shares of the company's stock, valued at approximately $36,290,741.94. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hagerty Price Performance

Shares of HGTY traded up $0.19 during midday trading on Wednesday, reaching $9.74. The stock had a trading volume of 108,337 shares, compared to its average volume of 85,202. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $3.33 billion, a P/E ratio of 48.70 and a beta of 0.91. The firm's 50 day moving average price is $9.27 and its 200-day moving average price is $9.65. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $12.35.

Hagerty (NYSE:HGTY - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $299.92 million. During the same period in the previous year, the company earned $0.04 earnings per share. On average, analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hagerty

Several large investors have recently made changes to their positions in HGTY. KLP Kapitalforvaltning AS bought a new stake in shares of Hagerty in the 4th quarter worth approximately $31,000. Ancora Advisors LLC bought a new stake in Hagerty during the fourth quarter worth approximately $46,000. BNP Paribas Financial Markets acquired a new position in Hagerty in the fourth quarter worth approximately $84,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Hagerty in the first quarter valued at $93,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Hagerty by 35.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock valued at $100,000 after buying an additional 2,726 shares in the last quarter. Institutional investors own 20.51% of the company's stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered their price objective 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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