Hagerty (NYSE:HGTY) Director Robert Kauffman Sells 34,447 Shares

Key Points

• Robert Kauffman, Director of Hagerty, sold 34,447 shares of the company's stock at an average price of $12.38, totaling approximately $426,454.
• The share sale led to a 2.82% decrease in Kauffman's ownership, leaving him with 1,186,942 shares valued at around $14.69 million.
• Hagerty reported earnings of $0.13 per share for its last quarter, surpassing analysts' expectations, and has a consensus rating of "Hold" with an average target price of $13.20.

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert Kauffman sold 34,447 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $12.38, for a total transaction of $426,453.86. Following the sale, the director owned 1,186,942 shares of the company's stock, valued at approximately $14,694,341.96. This represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Hagerty Trading Down 0.5%

Shares of HGTY stock traded down $0.06 during mid-day trading on Wednesday, reaching $12.23. The company's stock had a trading volume of 215,993 shares, compared to its average volume of 109,937. The company's 50 day simple moving average is $11.19 and its 200-day simple moving average is $10.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.27. Hagerty, Inc. has a 12-month low of $8.03 and a 12-month high of $13.32. The firm has a market capitalization of $4.18 billion, a PE ratio of 61.15 and a beta of 0.91.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on HGTY shares. BMO Capital Markets began coverage on shares of Hagerty in a research note on Monday. They set a "market perform" rating and a $13.00 price objective on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Hagerty in a research note on Wednesday, August 27th. They set an "outperform" rating and a $14.00 price target on the stock. Oppenheimer assumed coverage on shares of Hagerty in a report on Wednesday, September 17th. They issued an "outperform" rating and a $15.00 price objective on the stock. Finally, Evercore ISI assumed coverage on Hagerty in a research note on Wednesday, August 27th. They set an "outperform" rating and a $14.00 target price for the company. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Hagerty has a consensus rating of "Hold" and an average price target of $13.20.

Institutional Investors Weigh In On Hagerty

Institutional investors and hedge funds have recently made changes to their positions in the company. Neuberger Berman Group LLC boosted its holdings in Hagerty by 1.6% in the second quarter. Neuberger Berman Group LLC now owns 5,557,427 shares of the company's stock worth $56,186,000 after purchasing an additional 88,634 shares during the period. Greenhaven Road Investment Management L.P. raised its stake in Hagerty by 33.2% during the second quarter. Greenhaven Road Investment Management L.P. now owns 1,811,539 shares of the company's stock worth $18,315,000 after acquiring an additional 451,033 shares during the period. Pembroke Management LTD lifted its holdings in Hagerty by 5.9% in the second quarter. Pembroke Management LTD now owns 993,449 shares of the company's stock worth $10,044,000 after acquiring an additional 55,749 shares during the last quarter. Lincoln Capital LLC grew its holdings in shares of Hagerty by 9.4% during the second quarter. Lincoln Capital LLC now owns 607,309 shares of the company's stock valued at $6,140,000 after purchasing an additional 52,023 shares during the last quarter. Finally, Garner Asset Management Corp bought a new position in shares of Hagerty during the first quarter valued at approximately $2,909,000. 20.51% of the stock is owned by institutional investors and hedge funds.

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.

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