Hagerty (NYSE:HGTY) Director Sells $66,404.52 in Stock

Key Points

• Hagerty Director Robert Kauffman sold 6,081 shares of the company stock for a total of $66,404.52, resulting in a 0.41% decrease in his holdings.
• The company reported a quarterly earnings per share of $0.13, exceeding analysts' expectations of $0.11, and had a quarterly revenue of $368.70 million.
• Hagerty has experienced interest from institutional investors, with significant purchases made by firms such as Bank of America Corp DE, which raised its stake by 46.6%.

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert Kauffman sold 6,081 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $10.92, for a total transaction of $66,404.52. Following the transaction, the director directly owned 1,489,975 shares in the company, valued at approximately $16,270,527. This represents a 0.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hagerty Trading Down 0.9%

NYSE:HGTY traded down $0.10 during trading hours on Monday, reaching $10.83. 63,188 shares of the company were exchanged, compared to its average volume of 93,684. 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 firm has a market cap of $3.70 billion, a price-to-earnings ratio of 54.15 and a beta of 0.90. Hagerty, Inc. has a 52-week low of $8.03 and a 52-week high of $12.35. The stock has a 50 day simple moving average of $10.32 and a 200 day simple moving average of $9.71.

Hagerty (NYSE:HGTY - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $368.70 million for the quarter, compared to the consensus estimate of $347.15 million. Hagerty had a net margin of 4.88% and a return on equity of 13.76%. Hagerty has set its FY 2025 guidance at EPS. As a group, analysts predict that Hagerty, Inc. will post 0.22 EPS for the current year.

Hedge Funds Weigh In On Hagerty

Large investors have recently bought and sold shares of the stock. IFP Advisors Inc purchased a new position in Hagerty during the second quarter worth approximately $30,000. Ancora Advisors LLC purchased a new position in Hagerty during the fourth quarter worth approximately $46,000. BNP Paribas Financial Markets purchased a new position in Hagerty during the fourth quarter worth approximately $84,000. Bank of America Corp DE raised its stake in Hagerty by 46.6% during the second quarter. Bank of America Corp DE now owns 8,571 shares of the company's stock worth $87,000 after purchasing an additional 2,726 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Hagerty in the 1st quarter valued at $93,000. Hedge funds and other institutional investors own 20.51% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.