Hagerty (NYSE:HGTY) Director Sells $79,224.12 in Stock

Key Points

• Hagerty, Inc. Director Robert Kauffman sold 7,356 shares of the company's stock for a total value of $79,224.12, decreasing his position by 0.49% while still retaining approximately 1.5 million shares.
• The company's recent earnings report showed $0.13 EPS, surpassing expectations, with revenues of $368.7 million, higher than the projected $347.15 million.
• Institutional investors have increased their holdings in Hagerty, with notable changes including a 15.7% increase in shares owned by Neuberger Berman Group LLC.

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert Kauffman sold 7,356 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $10.77, for a total value of $79,224.12. Following the transaction, the director directly owned 1,496,056 shares in the company, valued at approximately $16,112,523.12. This represents a 0.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hagerty Stock Performance

NYSE:HGTY traded down $0.10 during mid-day trading on Monday, reaching $10.83. The stock had a trading volume of 63,188 shares, compared to its average volume of 93,684. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 54.15 and a beta of 0.90. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $12.35. The business 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 announced its quarterly earnings data on Monday, August 4th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.02. The firm had revenue of $368.70 million during 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. On average, analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hagerty

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in shares of Hagerty during the 4th quarter valued at approximately $879,000. Neuberger Berman Group LLC raised its position 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 purchasing an additional 743,597 shares during the last quarter. Legal & General Group Plc raised its position in shares of Hagerty by 48.6% during the 4th quarter. Legal & General Group Plc now owns 25,148 shares of the company's stock worth $243,000 after purchasing an additional 8,226 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Hagerty during the 4th quarter worth approximately $230,000. Finally, XTX Topco Ltd acquired a new position in shares of Hagerty during the 4th quarter worth approximately $119,000. 20.51% of the stock is currently owned by institutional investors and hedge funds.

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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