Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 16,972 Shares

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 16,972 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $10.03, for a total value of $170,229.16. Following the transaction, the director owned 3,459,085 shares of the company's stock, valued at $34,694,622.55. This represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Hagerty Stock Performance

NYSE:HGTY traded up $0.04 during midday trading on Friday, hitting $10.08. The company's stock had a trading volume of 77,246 shares, compared to its average volume of 72,041. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.01. Hagerty, Inc. has a fifty-two week low of $8.03 and a fifty-two week high of $12.35. The firm's 50 day moving average is $9.81 and its 200-day moving average is $9.55. The firm has a market cap of $3.44 billion, a P/E ratio of 50.40 and a beta of 0.90.

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

Institutional Trading of Hagerty

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC grew its position in Hagerty by 35.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock valued at $100,000 after acquiring an additional 2,726 shares in the last quarter. Swiss National Bank grew its position in shares of Hagerty by 6.0% during the fourth quarter. Swiss National Bank now owns 53,000 shares of the company's stock worth $511,000 after buying an additional 3,000 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Hagerty during the fourth quarter worth about $31,000. Garde Capital Inc. grew its position in shares of Hagerty by 4.0% during the fourth quarter. Garde Capital Inc. now owns 103,960 shares of the company's stock worth $1,003,000 after buying an additional 3,960 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Hagerty by 7.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,205 shares of the company's stock worth $620,000 after buying an additional 4,575 shares in the last quarter. 20.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. decreased their target price on Hagerty from $11.00 to $10.00 and set a "neutral" rating for the company in a research 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.