Hagerty, Inc. (NYSE:HGTY) Director Sells $170,997.64 in Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 16,897 shares of the stock in a transaction 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 transaction, the director directly owned 3,388,252 shares in the company, valued at approximately $34,289,110.24. This represents a 0.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hagerty Trading Up 0.0%

NYSE HGTY traded up $0.01 on Monday, hitting $10.12. 67,721 shares of the stock were exchanged, compared to its average volume of 71,964. Hagerty, Inc. has a 52-week low of $8.03 and a 52-week 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. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 50.58 and a beta of 0.90. The company's 50-day moving average price is $9.81 and its two-hundred day moving average price is $9.55.

Hagerty (NYSE:HGTY - Get Free Report) last announced 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. 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 last year, the firm posted $0.04 EPS. Research analysts predict that Hagerty, Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lowered their price target on Hagerty from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th.

Hedge Funds Weigh In On Hagerty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HGTY. Lincoln Capital LLC lifted its position in shares of Hagerty by 9.4% during the second 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 in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Hagerty by 24.9% during the first quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company's stock worth $338,000 after acquiring an additional 7,459 shares in the last quarter. Neuberger Berman Group LLC increased its position 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 in the last quarter. Virtu Financial LLC bought a new stake in shares of Hagerty during the first quarter worth $108,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Hagerty by 4.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,768 shares of the company's stock valued at $1,291,000 after purchasing an additional 5,667 shares in the last quarter. 20.51% of the stock is currently owned by institutional investors and hedge funds.

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.

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