Hagerty (NYSE:HGTY) Director Sells $221,566.32 in Stock

Key Points

• Hagerty Director Robert Kauffman sold 18,372 shares of stock for a total of $221,566.32, resulting in a 1.60% decrease in his ownership position.
• The company reported a quarterly earnings per share of $0.13, surpassing analyst expectations of $0.11, with revenue reaching $368.70 million.
• Hagerty's stock has a consensus rating of "Hold" and an average target price of $13.71, with recent brokerages setting price targets ranging from $13.00 to $15.00.

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert Kauffman sold 18,372 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $12.06, for a total value of $221,566.32. Following the sale, the director owned 1,132,877 shares in the company, valued at $13,662,496.62. This represents a 1.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Hagerty Price Performance

HGTY stock traded down $0.10 during midday trading on Wednesday, reaching $11.95. 201,359 shares of the stock were exchanged, compared to its average volume of 110,323. The stock has a market capitalization of $4.08 billion, a PE ratio of 59.73 and a beta of 0.91. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $13.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.06 and a quick ratio of 1.06. The company has a fifty day moving average price of $11.39 and a 200 day moving average price of $10.10.

Hagerty (NYSE:HGTY - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. The business had revenue of $368.70 million for the quarter, compared to analyst estimates 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. As a group, analysts expect that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Hagerty

Hedge funds have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC boosted its stake in shares of Hagerty by 15.7% during the 1st quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company's stock worth $49,438,000 after acquiring an additional 743,597 shares in the last quarter. Greenhaven Road Investment Management L.P. boosted its stake in shares of Hagerty by 33.2% during the 2nd 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 in the last quarter. Garner Asset Management Corp purchased a new stake in shares of Hagerty during the 1st quarter worth about $2,909,000. Scholtz & Company LLC purchased a new stake in shares of Hagerty during the 2nd quarter worth about $2,429,000. Finally, Lincoln Capital LLC boosted its stake in shares of Hagerty by 12.3% during the 1st quarter. Lincoln Capital LLC now owns 555,286 shares of the company's stock worth $4,753,000 after acquiring an additional 60,791 shares in the last quarter. 20.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HGTY. Oppenheimer began coverage on Hagerty in a report on Wednesday, September 17th. They set an "outperform" rating and a $15.00 price objective for the company. BMO Capital Markets began coverage on Hagerty in a report on Monday, September 22nd. They set a "market perform" rating and a $13.00 price target on the stock. JMP Securities started coverage on Hagerty in a research note on Wednesday. They issued a "market outperform" rating and a $15.00 price target on the stock. Citigroup initiated coverage on Hagerty in a research report on Wednesday. They set an "outperform" rating for the company. Finally, Keefe, Bruyette & Woods assumed coverage on Hagerty in a report on Wednesday, August 27th. They issued an "outperform" rating and a $14.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $13.71.

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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