Robert I. Kauffman Sells 17,762 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 17,762 shares of Hagerty stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $10.04, for a total transaction of $178,330.48. Following the sale, the director owned 3,441,323 shares of the company's stock, valued at approximately $34,550,882.92. This trade represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Hagerty Trading Up 0.8%

Shares of HGTY traded up $0.09 during mid-day trading on Wednesday, hitting $10.23. The company had a trading volume of 87,214 shares, compared to its average volume of 72,249. The business's 50-day simple moving average is $9.81 and its 200-day simple moving average is $9.55. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.25. Hagerty, Inc. has a 1-year low of $8.03 and a 1-year high of $12.35. The stock has a market cap of $3.49 billion, a PE ratio of 51.15 and a beta of 0.90.

Hagerty (NYSE:HGTY - Get Free Report) last announced its quarterly 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. The firm had revenue of $319.59 million for the quarter, compared to analysts' expectations of $299.92 million. Hagerty had a net margin of 4.73% and a return on equity of 13.55%. During the same period in the previous year, the company posted $0.04 earnings per share. Sell-side analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HGTY. KLP Kapitalforvaltning AS acquired a new position in Hagerty during the fourth quarter valued at approximately $31,000. Ancora Advisors LLC acquired a new position in shares of Hagerty during the fourth quarter worth $46,000. BNP Paribas Financial Markets acquired a new position in shares of Hagerty during the fourth quarter worth $84,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Hagerty during the first quarter worth $93,000. Finally, Voya Investment Management LLC acquired a new position in shares of Hagerty during the fourth quarter worth $104,000. 20.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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