Hagerty (NYSE:HGTY) Director Sells $457,400.85 in 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 Kauffman sold 38,085 shares of the firm's stock in a transaction dated 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 approximately $15,017,832.44. The trade was a 2.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hagerty Stock Up 2.0%

NYSE HGTY traded up $0.23 during trading hours on Monday, hitting $12.01. The company's stock had a trading volume of 212,320 shares, compared to its average volume of 98,197. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $12.10. The company's 50-day simple moving average is $10.61 and its two-hundred day simple moving average is $9.79. 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 market capitalization of $4.11 billion, a PE ratio of 60.07 and a beta of 0.91.

Hagerty (NYSE:HGTY - Get Free Report) last posted 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 net margin of 4.88% and a return on equity of 13.76%. The firm had revenue of $368.70 million for the quarter, compared to analysts' expectations of $347.15 million. Hagerty has set its FY 2025 guidance at EPS. Research analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE increased its stake in Hagerty by 46.6% in the second quarter. Bank of America Corp DE now owns 8,571 shares of the company's stock valued at $87,000 after acquiring an additional 2,726 shares during the last quarter. IFP Advisors Inc purchased a new stake in Hagerty during the second quarter valued at about $30,000. Garde Capital Inc. boosted its position in Hagerty by 4.0% during the fourth quarter. Garde Capital Inc. now owns 103,960 shares of the company's stock valued at $1,003,000 after buying an additional 3,960 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Hagerty by 7.7% during 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 buying an additional 4,575 shares during the period. Finally, Osaic Holdings Inc. boosted its position in Hagerty by 2,374.5% during the second quarter. Osaic Holdings Inc. now owns 4,949 shares of the company's stock valued at $50,000 after buying an additional 4,749 shares during the period. Institutional investors own 20.51% of the company's stock.

Analysts Set New Price Targets

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

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