Hagerty, Inc. (NYSE:HGTY) Director Sells $416,513.90 in Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 41,239 shares of Hagerty stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $10.10, for a total value of $416,513.90. Following the completion of the sale, the director directly owned 3,509,251 shares of the company's stock, 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 filing with the SEC, which is available at this hyperlink.

Hagerty Stock Up 0.1%

Shares of NYSE HGTY traded up $0.01 during midday trading on Monday, hitting $10.01. The company's stock had a trading volume of 49,025 shares, compared to its average volume of 72,411. 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 firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 50.05 and a beta of 0.90. The business's fifty day simple moving average is $9.75 and its two-hundred day simple moving average is $9.53. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year high of $12.35.

Hagerty (NYSE:HGTY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.02 by $0.06. The company had revenue of $319.59 million during 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 posted $0.04 EPS. On average, equities analysts predict that Hagerty, Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. decreased their target price on Hagerty from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th.

Institutional Trading of Hagerty

Hedge funds have recently modified their holdings of the stock. KLP Kapitalforvaltning AS acquired a new position in Hagerty during the 4th quarter worth approximately $31,000. Ancora Advisors LLC purchased a new stake in shares of Hagerty during the 4th quarter worth $46,000. BNP Paribas Financial Markets acquired a new position in shares of Hagerty during the fourth quarter worth $84,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Hagerty in the first quarter valued at $93,000. Finally, Steward Partners Investment Advisory LLC raised its stake in 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. 20.51% of the stock is currently owned by institutional investors and hedge funds.

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.