Hagerty, Inc. (NYSE:HGTY) Director Sells $1,156,876.00 in Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 110,600 shares of Hagerty stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $10.46, for a total transaction of $1,156,876.00. Following the completion of the transaction, the director owned 3,205,390 shares in the company, valued at approximately $33,528,379.40. This represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Hagerty Stock Performance

Shares of HGTY traded up $0.06 during mid-day trading on Monday, hitting $10.81. The company's stock had a trading volume of 47,465 shares, compared to its average volume of 88,278. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $3.69 billion, a PE ratio of 54.05 and a beta of 0.90. The stock's 50-day moving average is $9.91 and its two-hundred day moving average is $9.58. Hagerty, Inc. has a one year low of $8.03 and a one year high of $12.35.

Hagerty (NYSE:HGTY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.06. The firm had revenue of $319.59 million during the quarter, compared to analysts' expectations of $299.92 million. Hagerty had a return on equity of 13.55% and a net margin of 4.73%. During the same period in the previous year, the business posted $0.04 EPS. As a group, sell-side analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current year.

Institutional Trading of Hagerty

A number of institutional investors and hedge funds have recently bought and sold shares of HGTY. IFP Advisors Inc purchased a new stake in shares of Hagerty in the second quarter valued at about $30,000. KLP Kapitalforvaltning AS grew its position in Hagerty by 228.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company's stock worth $106,000 after purchasing an additional 7,300 shares in the last quarter. Lincoln Capital LLC increased its stake in Hagerty by 9.4% in the 2nd quarter. Lincoln Capital LLC now owns 607,309 shares of the company's stock valued at $6,140,000 after buying an additional 52,023 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Hagerty by 24.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company's stock worth $338,000 after buying an additional 7,459 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of 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 buying an additional 743,597 shares during the last quarter. 20.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their target price on Hagerty from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th.

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.