Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 41,239 Shares

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 41,239 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $10.10, for a total transaction of $416,513.90. Following the transaction, the director owned 3,509,251 shares in the company, valued at $35,443,435.10. The trade was a 1.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Hagerty Stock Down 0.5%

HGTY traded down $0.05 during trading on Friday, hitting $9.99. 102,933 shares of the company's stock traded hands, compared to its average volume of 72,819. The company's 50 day simple moving average is $9.73 and its two-hundred day simple moving average is $9.54. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 49.97 and a beta of 0.90. Hagerty, Inc. has a 12-month low of $8.03 and a 12-month high of $12.35.

Hagerty (NYSE:HGTY - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $319.59 million for the quarter, compared to the consensus estimate 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 posted $0.04 earnings per share. Analysts predict that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered their price objective on shares of Hagerty from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th.

Institutional Trading of Hagerty

Several institutional investors have recently made changes to their positions in HGTY. Lincoln Capital LLC increased its holdings 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 buying an additional 52,023 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Hagerty by 24.9% in the first quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company's stock worth $338,000 after buying an additional 7,459 shares during the period. Neuberger Berman Group LLC increased its stake in Hagerty by 15.7% in the first quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company's stock worth $49,438,000 after purchasing an additional 743,597 shares during the period. Virtu Financial LLC bought a new stake in Hagerty during the 1st quarter valued at about $108,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Hagerty by 4.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,768 shares of the company's stock valued at $1,291,000 after acquiring an additional 5,667 shares in the last quarter. Hedge funds and other institutional investors own 20.51% of the company's stock.

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.

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