Hagerty (NYSE:HGTY) Director Sells $83,351.16 in Stock

Key Points

• Hagerty Director Robert Kauffman sold 7,668 shares of the company's stock for $83,351.16, resulting in a 0.51% decrease in ownership.
• The company's stock price dropped 0.9% to $10.83, with a market capitalization of $3.70 billion.
• Hagerty reported $368.70 million in revenue for the last quarter, surpassing analysts' expectations of $347.15 million.

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert Kauffman sold 7,668 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $10.87, for a total transaction of $83,351.16. Following the sale, the director owned 1,482,307 shares in the company, valued at $16,112,677.09. This trade represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hagerty Stock Down 0.9%

NYSE:HGTY traded down $0.10 during mid-day trading on Monday, hitting $10.83. The stock had a trading volume of 63,188 shares, compared to its average volume of 93,684. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.27. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $12.35. The stock has a 50-day simple moving average of $10.32 and a two-hundred day simple moving average of $9.71. The company has a market capitalization of $3.70 billion, a PE ratio of 54.15 and a beta of 0.90.

Hagerty (NYSE:HGTY - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.13 earnings per share (EPS) 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 net margin of 4.88% and a return on equity of 13.76%. Hagerty has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HGTY. Raymond James Financial Inc. acquired a new position in shares of Hagerty in the fourth quarter valued at approximately $879,000. Neuberger Berman Group LLC boosted its holdings in Hagerty by 15.7% in 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 during the period. Legal & General Group Plc boosted its holdings in Hagerty by 48.6% in the 4th quarter. Legal & General Group Plc now owns 25,148 shares of the company's stock worth $243,000 after acquiring an additional 8,226 shares during the period. Jane Street Group LLC purchased a new position in Hagerty in the 4th quarter worth approximately $230,000. Finally, XTX Topco Ltd purchased a new position in shares of Hagerty during the 4th quarter valued at approximately $119,000. Institutional investors and hedge funds own 20.51% of the company's stock.

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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