Hagerty, Inc. (NYSE:HGTY) Director Sells $148,620.00 in Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 14,862 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $10.00, for a total transaction of $148,620.00. Following the transaction, the director owned 3,476,057 shares in the company, valued at approximately $34,760,570. This trade represents a 0.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hagerty Stock Up 0.4%

NYSE HGTY traded up $0.04 during trading on Friday, reaching $10.08. 77,246 shares of the company's stock traded hands, compared to its average volume of 72,041. 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 cap of $3.44 billion, a price-to-earnings ratio of 50.40 and a beta of 0.90. The company's 50 day simple moving average is $9.81 and its two-hundred day simple moving average is $9.55. 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 issued 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 firm 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 in the previous year, the firm earned $0.04 EPS. As a group, sell-side analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Trading of Hagerty

Several large investors have recently made changes to their positions in HGTY. Neuberger Berman Group LLC lifted 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 period. Garner Asset Management Corp acquired a new position in shares of Hagerty in the 1st quarter valued at $2,909,000. Greenhaven Road Investment Management L.P. lifted its stake in shares of Hagerty by 10.1% in 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 purchasing an additional 124,336 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of Hagerty in the 4th quarter valued at $997,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Hagerty in the 4th quarter valued at $879,000. 20.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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