Insider Selling: Hagerty (NYSE:HGTY) Director Sells 38,085 Shares of Stock

Key Points

• Hagerty, Inc. Director Robert Kauffman sold 38,085 shares of the company's stock for a total of $457,400.85, reducing his stake by 2.96%.
• The stock is currently valued at $12.01 per share, with recent trading showing a 2.0% increase and notable institutional investor activities.
• Analysts have set a consensus price target of $12.67 for Hagerty, with ratings ranging from "Buy" to "Sell" from various research firms.

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 38,085 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $12.01, for a total transaction of $457,400.85. Following the completion of the transaction, the director directly owned 1,250,444 shares in the company, valued at $15,017,832.44. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hagerty Stock Up 0.2%

NYSE:HGTY traded up $0.03 during midday trading on Friday, hitting $12.53. 211,599 shares of the company were exchanged, compared to its average volume of 145,807. Hagerty, Inc. has a fifty-two week low of $8.03 and a fifty-two week high of $12.75. The company has a market capitalization of $4.28 billion, a PE ratio of 62.63 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 company has a fifty day simple moving average of $10.83 and a 200 day simple moving average of $9.88.

Hagerty (NYSE:HGTY - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.13 earnings per share (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 company had revenue of $368.70 million for the quarter, compared to analyst estimates of $347.15 million. Hagerty has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in shares of Hagerty by 225.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 62,034 shares of the company's stock worth $599,000 after purchasing an additional 42,967 shares during the last quarter. Voya Investment Management LLC purchased a new position in Hagerty during the 4th quarter worth $104,000. Jane Street Group LLC acquired a new stake in shares of Hagerty in the 4th quarter worth $230,000. BNP Paribas Financial Markets purchased a new stake in shares of Hagerty in the fourth quarter valued at about $84,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 valued at $620,000 after acquiring an additional 4,575 shares in the last quarter. Institutional investors and hedge funds own 20.51% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HGTY shares. Evercore ISI started coverage on Hagerty in a report on Wednesday, August 27th. They issued an "outperform" rating and a $14.00 price objective for the company. Keefe, Bruyette & Woods began coverage on shares of Hagerty in a research report on Wednesday, August 27th. They issued an "outperform" rating and a $14.00 price target for the company. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $12.67.

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.