Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 14,862 Shares

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

Hagerty Stock Performance

HGTY traded up $0.04 during midday trading on Friday, hitting $10.08. 77,246 shares of the company were exchanged, compared to its average volume of 72,041. The company's 50 day simple moving average is $9.81 and its 200 day simple moving average is $9.55. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 50.40 and a beta of 0.90. Hagerty, Inc. has a 1-year low of $8.03 and a 1-year high of $12.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25.

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

Institutional Investors Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. 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 purchased a new position in Hagerty in the first quarter valued at $2,909,000. Greenhaven Road Investment Management L.P. raised its position in shares of Hagerty by 10.1% in the first quarter. Greenhaven Road Investment Management L.P. now owns 1,360,506 shares of the company's stock worth $12,299,000 after acquiring an additional 124,336 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Hagerty during the 4th quarter worth about $997,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Hagerty during the 4th quarter valued at about $879,000. Institutional investors and hedge funds own 20.51% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.