Robert I. Kauffman Sells 7,681 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 7,681 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $9.92, for a total transaction of $76,195.52. Following the transaction, the director now directly owns 3,877,418 shares in the company, valued at approximately $38,463,986.56. This trade represents a 0.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Hagerty Stock Up 0.5%

NYSE HGTY traded up $0.05 during midday trading on Friday, hitting $10.08. 28,458 shares of the company traded hands, compared to its average volume of 85,754. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $12.35. The company's 50-day simple moving average is $9.11 and its 200-day simple moving average is $9.77. The company has a market cap of $3.44 billion, a PE ratio of 91.55 and a beta of 0.91. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01.

Hagerty (NYSE:HGTY - Get Free Report) last released 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. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. The business had revenue of $319.59 million during the quarter, compared to analyst estimates of $299.92 million. During the same period in the prior year, the firm posted $0.04 earnings per share. As a group, equities research analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Pembroke Management LTD acquired a new stake in Hagerty in the fourth quarter worth about $9,201,000. Bank of New York Mellon Corp purchased a new position in shares of Hagerty in the 4th quarter valued at approximately $182,000. Steward Partners Investment Advisory LLC boosted its stake in Hagerty by 35.9% in the 4th 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. boosted its stake in Hagerty by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 140,037 shares of the company's stock worth $1,351,000 after purchasing an additional 8,258 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Hagerty in the fourth quarter worth $879,000. 20.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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