Hagerty (NYSE:HGTY) Director Robert Kauffman Sells 5,506 Shares

Key Points

• Robert Kauffman, a director at Hagerty, Inc. (NYSE:HGTY), sold 5,506 shares of the company's stock on September 29th for a total of $64,805.62, reducing his ownership by 0.46%.
• Hagerty's stock price has fluctuated recently, having a 12-month high of $13.32 and a low of $8.03, with the shares trading at approximately $11.95.
• Analysts have mixed ratings for Hagerty, with a consensus of "Hold" and a price target averaging $13.71, while some firms have set target prices as high as $15.00.

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert Kauffman sold 5,506 shares of Hagerty stock in a transaction on Monday, September 29th. The shares were sold at an average price of $11.77, for a total value of $64,805.62. Following the completion of the sale, the director directly owned 1,181,436 shares of the company's stock, valued at $13,905,501.72. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Hagerty Stock Down 0.8%

HGTY traded down $0.10 on Wednesday, hitting $11.95. 201,359 shares of the company were exchanged, compared to its average volume of 110,323. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $13.32. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 59.73 and a beta of 0.91. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $11.39 and a two-hundred day moving average price of $10.10.

Hagerty (NYSE:HGTY - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. Hagerty had a return on equity of 13.76% and a net margin of 4.88%.The firm 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 analysts predict that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in shares of Hagerty in the fourth quarter worth about $230,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Hagerty by 7.7% in the fourth 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. Greenhaven Road Investment Management L.P. boosted its position in shares of Hagerty by 10.1% in the first quarter. Greenhaven Road Investment Management L.P. now owns 1,360,506 shares of the company's stock worth $12,299,000 after buying an additional 124,336 shares during the period. Garner Asset Management Corp purchased a new stake in shares of Hagerty in the first quarter worth about $2,909,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Hagerty in the first quarter worth about $93,000. Institutional investors and hedge funds own 20.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Evercore ISI assumed coverage on Hagerty in a research report on Wednesday, August 27th. They set an "outperform" rating and a $14.00 target price on the stock. Citigroup initiated coverage on Hagerty in a research report on Wednesday. They set an "outperform" rating on the stock. JMP Securities initiated coverage on Hagerty in a research report on Wednesday. They issued a "market outperform" rating and a $15.00 target price for the company. Citizens Jmp initiated coverage on Hagerty in a research report on Wednesday. They issued a "mkt outperform" rating and a $15.00 target price for the company. Finally, Keefe, Bruyette & Woods initiated coverage on Hagerty in a research report on Wednesday, August 27th. They issued an "outperform" rating and a $14.00 target price for the company. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Hagerty has a consensus rating of "Hold" and an average price target of $13.71.

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.

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