Hagerty, Inc. (NYSE:HGTY) Director Sells $178,330.48 in Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 17,762 shares of Hagerty stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $10.04, for a total transaction of $178,330.48. Following the completion of the transaction, the director owned 3,441,323 shares in the company, valued at approximately $34,550,882.92. The trade was a 0.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hagerty Trading Up 0.0%

Hagerty stock traded up $0.01 during trading hours on Monday, reaching $10.12. The stock had a trading volume of 67,721 shares, compared to its average volume of 71,964. The stock has a market cap of $3.46 billion, a PE ratio of 50.58 and a beta of 0.90. 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 fifty day simple moving average of $9.81 and a 200-day simple moving average of $9.55.

Hagerty (NYSE:HGTY - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, beating 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 firm had revenue of $319.59 million for the quarter, compared to analyst estimates of $299.92 million. During the same quarter in the previous year, the firm posted $0.04 EPS. Analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. cut their price target 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.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Lincoln Capital LLC raised its holdings in shares of Hagerty by 9.4% during the second quarter. Lincoln Capital LLC now owns 607,309 shares of the company's stock valued at $6,140,000 after purchasing an additional 52,023 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Hagerty by 24.9% during the first quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company's stock valued at $338,000 after buying an additional 7,459 shares during the period. Neuberger Berman Group LLC grew its position in Hagerty by 15.7% during the first quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company's stock valued at $49,438,000 after buying an additional 743,597 shares during the period. Virtu Financial LLC bought a new stake in Hagerty during the first quarter valued at approximately $108,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Hagerty by 4.1% during 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 buying an additional 5,667 shares during the period. 20.51% of the stock is owned by hedge funds and other institutional investors.

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.

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