Hagerty (NYSE:HGTY) Director Sells $146,228.07 in Stock

Key Points

• Director Robert Kauffman sold 11,433 shares of Hagerty, Inc. at an average price of $12.79, totaling approximately $146,228, reducing his ownership by 0.91%.
• Hagerty's stock traded up by 4.8%, reaching $13.00, with a market cap of $4.45 billion and a twelve-month high of $13.32.
• Analysts have set an average price target of $13.25 for Hagerty, with ratings mainly in the "Hold" category, though projections suggest potential for growth.

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 11,433 shares of the company's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $12.79, for a total transaction of $146,228.07. Following the transaction, the director owned 1,239,011 shares in the company, valued at $15,846,950.69. The trade was a 0.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hagerty Trading Down 1.7%

HGTY stock traded down $0.22 during midday trading on Friday, hitting $12.76. The stock had a trading volume of 1,021,266 shares, compared to its average volume of 223,393. The company's 50-day moving average price is $11.10 and its 200 day moving average price is $9.97. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.06 and a quick ratio of 1.06. Hagerty, Inc. has a 12-month low of $8.03 and a 12-month high of $13.32. The firm has a market cap of $4.36 billion, a PE ratio of 63.80 and a beta of 0.91.

Hagerty (NYSE:HGTY - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. Hagerty had a return on equity of 13.76% and a net margin of 4.88%.The business had revenue of $368.70 million during the quarter, compared to analysts' expectations of $347.15 million. Hagerty has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Oppenheimer started coverage on Hagerty in a research report on Wednesday. They set an "outperform" rating and a $15.00 price target on the stock. Evercore ISI started coverage on Hagerty in a research note on Wednesday, August 27th. They issued an "outperform" rating and a $14.00 price target for the company. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Hagerty in a report on Wednesday, August 27th. They set an "outperform" rating and a $14.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $13.25.

Institutional Investors Weigh In On Hagerty

Several hedge funds have recently added to or reduced their stakes in HGTY. Osaic Holdings Inc. grew its stake in shares of Hagerty by 2,374.5% in the second quarter. Osaic Holdings Inc. now owns 4,949 shares of the company's stock worth $50,000 after purchasing an additional 4,749 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Hagerty by 1.6% in the second quarter. Neuberger Berman Group LLC now owns 5,557,427 shares of the company's stock valued at $56,186,000 after buying an additional 88,634 shares during the period. Bank of America Corp DE lifted its stake in shares of Hagerty by 46.6% in the second quarter. Bank of America Corp DE now owns 8,571 shares of the company's stock worth $87,000 after acquiring an additional 2,726 shares during the period. Marshall Wace LLP raised its stake in Hagerty by 37.2% during the second quarter. Marshall Wace LLP now owns 22,405 shares of the company's stock worth $227,000 after buying an additional 6,072 shares during the last quarter. Finally, Greenhaven Road Investment Management L.P. lifted its stake in Hagerty by 33.2% in the second quarter. Greenhaven Road Investment Management L.P. now owns 1,811,539 shares of the company's stock valued at $18,315,000 after buying an additional 451,033 shares during the period. 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.