Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 7,432 Shares

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 7,432 shares of the firm's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $10.12, for a total value of $75,211.84. Following the transaction, the director now owns 3,698,835 shares of the company's stock, valued at $37,432,210.20. This trade represents a 0.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Hagerty Stock Up 0.9%

NYSE HGTY traded up $0.09 during trading on Friday, reaching $10.16. 63,184 shares of the company's stock were exchanged, compared to its average volume of 77,024. The stock has a market cap of $3.47 billion, a P/E ratio of 50.82 and a beta of 0.91. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year 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. The company has a 50 day moving average price of $9.45 and a two-hundred day moving average price of $9.59.

Hagerty (NYSE:HGTY - Get Free Report) last announced its 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 during the quarter, compared to analysts' expectations of $299.92 million. Hagerty had a return on equity of 13.55% and a net margin of 4.73%. During the same period in the prior year, the firm earned $0.04 EPS. On average, equities research analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Neuberger Berman Group LLC grew its stake in shares of Hagerty by 15.7% in the 1st quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company's stock valued at $49,438,000 after purchasing an additional 743,597 shares during the last quarter. Garner Asset Management Corp purchased a new position in shares of Hagerty in the 1st quarter valued at about $2,909,000. Greenhaven Road Investment Management L.P. lifted its position in shares of Hagerty by 10.1% during the 1st quarter. Greenhaven Road Investment Management L.P. now owns 1,360,506 shares of the company's stock valued at $12,299,000 after acquiring an additional 124,336 shares during the period. Markel Group Inc. increased its position in shares of Hagerty by 3.6% in the fourth quarter. Markel Group Inc. now owns 3,108,000 shares of the company's stock valued at $29,992,000 after buying an additional 108,000 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of Hagerty in the fourth quarter valued at approximately $997,000. 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.

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