Robert I. Kauffman Sells 2,144 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 2,144 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $9.12, for a total value of $19,553.28. Following the completion of the transaction, the director now directly owns 3,930,407 shares of the company's stock, valued at approximately $35,845,311.84. This trade represents a 0.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hagerty Stock Performance

Shares of Hagerty stock traded up $0.05 during trading hours on Friday, reaching $9.76. 177,080 shares of the stock traded hands, compared to its average volume of 86,794. The company has a 50 day moving average price of $9.04 and a 200 day moving average price of $9.80. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 88.73 and a beta of 0.88. Hagerty, Inc. has a one year low of $8.03 and a one year high of $12.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23.

Hagerty (NYSE:HGTY - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.06. The business had revenue of $319.59 million during the quarter, compared to the consensus estimate of $299.92 million. Hagerty had a return on equity of 12.06% and a net margin of 5.27%. During the same period in the previous year, the company posted $0.04 EPS. On average, equities research analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HGTY. KLP Kapitalforvaltning AS purchased a new position in Hagerty in the 4th quarter worth approximately $31,000. Ancora Advisors LLC purchased a new stake in shares of Hagerty during the 4th quarter worth approximately $46,000. R Squared Ltd purchased a new stake in shares of Hagerty during the 4th quarter worth approximately $51,000. BNP Paribas Financial Markets purchased a new stake in shares of Hagerty during the 4th quarter worth approximately $84,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Hagerty during the 1st quarter worth approximately $93,000. 20.51% of the stock is currently owned by institutional investors.

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.