Robert I. Kauffman Sells 98,766 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 98,766 shares of the firm's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $10.07, for a total transaction of $994,573.62. Following the transaction, the director directly owned 3,550,490 shares in the company, valued at $35,753,434.30. The trade was a 2.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hagerty Stock Performance

Shares of NYSE:HGTY traded up $0.01 during midday trading on Monday, reaching $10.01. The company had a trading volume of 49,025 shares, compared to its average volume of 72,411. The stock has a market cap of $3.42 billion, a P/E ratio of 50.05 and a beta of 0.90. The company's 50 day moving average price is $9.75 and its 200 day moving average price is $9.53. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25. Hagerty, Inc. has a 52-week low of $8.03 and a 52-week 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 EPS for the quarter, topping the consensus estimate of $0.02 by $0.06. Hagerty had a net margin of 4.73% and a return on equity of 13.55%. The business had revenue of $319.59 million for the quarter, compared to analyst estimates of $299.92 million. During the same quarter in the previous year, the firm posted $0.04 earnings per share. As a group, sell-side analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Hagerty

Several institutional investors have recently bought and sold shares of HGTY. Lincoln Capital LLC increased its stake 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 purchasing an additional 52,023 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Hagerty by 24.9% in 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 during the period. 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 buying an additional 743,597 shares during the period. Virtu Financial LLC purchased a new position in Hagerty in the 1st quarter valued at approximately $108,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 valued at $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.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. decreased their price target 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.