Hagerty, Inc. (NYSE:HGTY) Director Sells $117,334.20 in Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 11,710 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $10.02, for a total transaction of $117,334.20. Following the transaction, the director now owns 3,769,614 shares in the company, valued at approximately $37,771,532.28. This trade represents a 0.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Hagerty Stock Performance

Shares of HGTY stock traded up $0.01 during trading on Wednesday, reaching $10.08. The company had a trading volume of 10,898 shares, compared to its average volume of 81,838. The firm's 50 day simple moving average is $9.39 and its two-hundred day simple moving average is $9.59. Hagerty, Inc. has a one year low of $8.03 and a one year high of $12.35. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $3.44 billion, a PE ratio of 50.40 and a beta of 0.91.

Hagerty (NYSE:HGTY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.02 by $0.06. Hagerty had a return on equity of 13.55% and a net margin of 4.73%. The company had revenue of $319.59 million for the quarter, compared to the consensus estimate of $299.92 million. During the same quarter last year, the company posted $0.04 earnings per share. Sell-side analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HGTY. Markel Group Inc. lifted its holdings in shares of Hagerty by 3.6% during the fourth quarter. Markel Group Inc. now owns 3,108,000 shares of the company's stock worth $29,992,000 after buying an additional 108,000 shares during the last quarter. Raymond James Financial Inc. bought a new position in Hagerty during the fourth quarter worth $879,000. Steward Partners Investment Advisory LLC increased its position in Hagerty by 35.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock worth $100,000 after acquiring an additional 2,726 shares during the period. Legal & General Group Plc raised its stake in Hagerty by 48.6% during the 4th quarter. Legal & General Group Plc now owns 25,148 shares of the company's stock valued at $243,000 after purchasing an additional 8,226 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Hagerty during the 4th quarter valued at $230,000. 20.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. decreased their price objective on shares of Hagerty from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th.

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.