Robert I. Kauffman Sells 36,174 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 36,174 shares of the business's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $10.12, for a total transaction of $366,080.88. Following the sale, the director owned 3,405,149 shares in the company, valued at $34,460,107.88. The trade was a 1.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Hagerty Stock Up 0.7%

Shares of NYSE HGTY traded up $0.07 during trading hours on Tuesday, hitting $10.16. The company had a trading volume of 115,543 shares, compared to its average volume of 68,787. 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 capitalization of $3.47 billion, a P/E ratio of 50.80 and a beta of 0.90. The firm's 50 day moving average is $9.81 and its 200-day moving average is $9.55.

Hagerty (NYSE:HGTY - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates 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 quarter last year, the business posted $0.04 EPS. On average, 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 price target on Hagerty from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th.

Institutional Trading of Hagerty

Several large investors have recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in Hagerty in the 4th quarter valued at $879,000. Legal & General Group Plc raised its holdings in shares of Hagerty by 48.6% during the fourth quarter. Legal & General Group Plc now owns 25,148 shares of the company's stock valued at $243,000 after acquiring an additional 8,226 shares in the last quarter. Jane Street Group LLC bought a new position in Hagerty in the fourth quarter valued at about $230,000. XTX Topco Ltd purchased a new position in shares of Hagerty in the 4th quarter worth approximately $119,000. Finally, Voya Investment Management LLC bought a new position in shares of Hagerty in the 4th quarter worth $104,000. 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.