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

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 16,972 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $10.03, for a total transaction of $170,229.16. Following the completion of the sale, the director directly owned 3,459,085 shares in the company, valued at $34,694,622.55. This represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Hagerty Stock Up 0.9%

HGTY stock traded up $0.09 during trading on Thursday, hitting $10.09. 35,492 shares of the stock traded hands, compared to its average volume of 72,027. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year high of $12.35. The firm's 50 day moving average is $9.80 and its two-hundred day moving average is $9.54. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 50.43 and a beta of 0.90. 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 (NYSE:HGTY - Get Free Report) last announced its quarterly 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 the consensus estimate of $299.92 million. Hagerty had a net margin of 4.73% and a return on equity of 13.55%. During the same quarter last year, the firm posted $0.04 EPS. On average, sell-side analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current year.

Hedge Funds Weigh In On Hagerty

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Lincoln Capital LLC boosted its holdings in shares of Hagerty by 9.4% in the second quarter. Lincoln Capital LLC now owns 607,309 shares of the company's stock worth $6,140,000 after buying an additional 52,023 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in 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 acquiring an additional 7,459 shares during the period. Neuberger Berman Group LLC raised its stake in 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 acquiring an additional 743,597 shares during the period. Virtu Financial LLC bought a new stake in Hagerty during the 1st quarter worth approximately $108,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Hagerty by 4.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,768 shares of the company's stock worth $1,291,000 after acquiring an additional 5,667 shares during the period. Hedge funds and other institutional investors own 20.51% of the company's stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. cut their price objective on shares of Hagerty from $11.00 to $10.00 and set a "neutral" rating on the stock in a research 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.