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

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 4,010 shares of Hagerty stock in a transaction on Monday, June 16th. The shares were sold at an average price of $9.54, for a total transaction of $38,255.40. Following the completion of the transaction, the director now directly owns 3,804,061 shares of the company's stock, valued at $36,290,741.94. The trade was a 0.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hagerty Price Performance

HGTY traded up $0.20 during trading on Friday, hitting $9.86. The company's stock had a trading volume of 81,053 shares, compared to its average volume of 82,801. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 49.28 and a beta of 0.91. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $12.35. The business's fifty day simple moving average is $9.34 and its 200 day simple moving average is $9.61. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25.

Hagerty (NYSE:HGTY - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.06. The firm had revenue of $319.59 million for the quarter, compared to analysts' expectations 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 company earned $0.04 EPS. On average, equities research analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lowered 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.

Hedge Funds Weigh In On Hagerty

A number of institutional investors have recently added to or reduced their stakes in the stock. Pembroke Management LTD acquired a new stake in Hagerty in the 4th quarter valued at about $9,201,000. Bank of New York Mellon Corp purchased a new stake in shares of Hagerty during the 4th quarter worth $182,000. Steward Partners Investment Advisory LLC grew its stake in shares of Hagerty by 35.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock worth $100,000 after purchasing an additional 2,726 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Hagerty by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 140,037 shares of the company's stock valued at $1,351,000 after buying an additional 8,258 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Hagerty in the fourth quarter valued at $879,000. Hedge funds and other institutional investors own 20.51% of the company's stock.

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.