Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 9,970 Shares

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 9,970 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $9.94, for a total transaction of $99,101.80. Following the completion of the transaction, the director directly owned 3,499,281 shares in the company, valued at approximately $34,782,853.14. The trade was a 0.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Hagerty Trading Down 0.5%

Shares of NYSE HGTY traded down $0.05 during midday trading on Friday, reaching $9.99. 102,933 shares of the stock were exchanged, compared to its average volume of 72,742. The business has a 50-day simple moving average of $9.75 and a two-hundred day simple moving average of $9.54. The company 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. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.01.

Hagerty (NYSE:HGTY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.06. Hagerty had a net margin of 4.73% and a return on equity of 13.55%. The business had revenue of $319.59 million for the quarter, compared to analyst estimates of $299.92 million. During the same period last year, the business posted $0.04 earnings per share. As a group, equities research analysts expect that Hagerty, Inc. will post 0.22 EPS for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC raised its holdings in shares of Hagerty by 15.7% during the first quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company's stock worth $49,438,000 after acquiring an additional 743,597 shares during the period. Greenhaven Road Investment Management L.P. increased its stake 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 worth $12,299,000 after purchasing an additional 124,336 shares during the last quarter. Lincoln Capital LLC increased its stake in shares of Hagerty by 9.4% during the 2nd quarter. Lincoln Capital LLC now owns 607,309 shares of the company's stock worth $6,140,000 after purchasing an additional 52,023 shares during the last quarter. Garner Asset Management Corp acquired a new position in shares of Hagerty during the 1st quarter worth about $2,909,000. Finally, Renaissance Technologies LLC increased its stake in shares of Hagerty by 21.6% during the 4th quarter. Renaissance Technologies LLC now owns 193,896 shares of the company's stock worth $1,871,000 after purchasing an additional 34,500 shares during the last quarter. 20.51% of the stock is currently owned by institutional investors and hedge funds.

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.