Insider Selling: Hagerty (NYSE:HGTY) Director Sells 12,219 Shares of Stock

Key Points

• Hagerty Director Robert Kauffman sold 12,219 shares at an average price of $11.19, totaling approximately $136,730, reducing his ownership by 1.27%.
• The stock is currently trading at $11.21, with analysts giving it a consensus rating of "Hold" and an average target price of $13.88.
• Institutional investors hold around 20.51% of Hagerty's stock, with significant recent increases in stakes from firms like Neuberger Berman Group LLC and Lincoln Capital LLC.

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert Kauffman sold 12,219 shares of the company's stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $11.19, for a total transaction of $136,730.61. Following the completion of the sale, the director directly owned 952,593 shares in the company, valued at $10,659,515.67. This represents a 1.27% 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 link.

Hagerty Stock Up 0.5%

HGTY traded up $0.06 during trading on Tuesday, hitting $11.21. The company had a trading volume of 114,848 shares, compared to its average volume of 109,897. The company has a market cap of $3.83 billion, a PE ratio of 56.03 and a beta of 0.92. The business has a 50-day moving average of $11.77 and a 200-day moving average of $10.38. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.06 and a quick ratio of 1.06. Hagerty, Inc. has a 1-year low of $8.03 and a 1-year high of $13.32.

Hagerty (NYSE:HGTY - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. The company had revenue of $368.70 million for the quarter, compared to analysts' expectations of $347.15 million. Hagerty had a net margin of 4.88% and a return on equity of 13.76%. Hagerty has set its FY 2025 guidance at EPS. As a group, analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HGTY. JMP Securities began coverage on shares of Hagerty in a report on Wednesday, October 1st. They set a "market outperform" rating and a $15.00 target price on the stock. BMO Capital Markets began coverage on shares of Hagerty in a report on Monday, September 22nd. They set a "market perform" rating and a $13.00 target price on the stock. Citizens Jmp began coverage on shares of Hagerty in a report on Wednesday, October 1st. They set a "mkt outperform" rating and a $15.00 target price on the stock. Oppenheimer began coverage on shares of Hagerty in a report on Wednesday, September 17th. They set an "outperform" rating and a $15.00 target price on the stock. Finally, Keefe, Bruyette & Woods started coverage on shares of Hagerty in a report on Wednesday, August 27th. They set an "outperform" rating and a $14.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $13.88.

Hedge Funds Weigh In On Hagerty

Institutional investors have recently modified their holdings of the company. Neuberger Berman Group LLC grew its position in shares of Hagerty by 15.7% during the first 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 last quarter. Lincoln Capital LLC increased its stake in Hagerty by 9.4% during 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 period. Greenhaven Road Investment Management L.P. increased its stake in Hagerty by 10.1% during the 1st quarter. Greenhaven Road Investment Management L.P. now owns 1,360,506 shares of the company's stock valued at $12,299,000 after buying an additional 124,336 shares during the period. Swiss National Bank increased its stake in Hagerty by 15.3% during the 1st quarter. Swiss National Bank now owns 61,100 shares of the company's stock valued at $552,000 after buying an additional 8,100 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Hagerty during the 1st quarter valued at about $93,000. Institutional investors own 20.51% of the company's stock.

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.

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