Robert I. Kauffman Sells 16,897 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 16,897 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $10.12, for a total value of $170,997.64. Following the sale, the director directly owned 3,388,252 shares of the company's stock, valued at $34,289,110.24. The trade was a 0.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Hagerty Stock Performance

NYSE:HGTY traded up $0.32 during mid-day trading on Thursday, hitting $10.60. 218,111 shares of the company's stock traded hands, compared to its average volume of 79,157. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 52.98 and a beta of 0.90. The firm has a 50 day moving average of $9.87 and a two-hundred day moving average of $9.56. 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, Inc. has a 12 month low of $8.03 and a 12 month high of $12.35.

Hagerty (NYSE:HGTY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.06. The company 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 business earned $0.04 earnings per share. On average, equities analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Trading of Hagerty

Hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc acquired a new position in Hagerty in the 2nd quarter valued at approximately $30,000. KLP Kapitalforvaltning AS bought a new position in Hagerty in the fourth quarter worth $31,000. Ancora Advisors LLC bought a new position in Hagerty in the fourth quarter worth $46,000. BNP Paribas Financial Markets acquired a new stake in Hagerty during the fourth quarter worth $84,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Hagerty in the 1st quarter valued at $93,000. 20.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

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