Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 7,000 Shares

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 7,000 shares of Hagerty stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $9.37, for a total transaction of $65,590.00. Following the sale, the director now owns 3,916,007 shares of the company's stock, valued at approximately $36,692,985.59. The trade was a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Hagerty Price Performance

Shares of HGTY traded up $0.05 during mid-day trading on Friday, reaching $9.76. 177,080 shares of the company's stock were exchanged, compared to its average volume of 86,794. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. The company has a 50-day simple moving average of $9.04 and a two-hundred day simple moving average of $9.80. Hagerty, Inc. has a 52-week low of $8.03 and a 52-week high of $12.35. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 88.73 and a beta of 0.88.

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

Institutional Trading of Hagerty

Hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC boosted its holdings in shares of Hagerty by 35.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock valued at $100,000 after purchasing an additional 2,726 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Hagerty by 6.0% during the 4th quarter. Swiss National Bank now owns 53,000 shares of the company's stock valued at $511,000 after acquiring an additional 3,000 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Hagerty during the 4th quarter valued at $31,000. Garde Capital Inc. increased its stake in Hagerty by 4.0% during the 4th quarter. Garde Capital Inc. now owns 103,960 shares of the company's stock worth $1,003,000 after buying an additional 3,960 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Hagerty by 7.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,205 shares of the company's stock worth $620,000 after buying an additional 4,575 shares during the period. Institutional investors and hedge funds own 20.51% of the company's stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reduced their price target on shares of Hagerty from $11.00 to $10.00 and set a "neutral" rating for the company 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.