Insider Selling: Hagerty (NYSE:HGTY) Director Sells 8,286 Shares of Stock

Key Points

• Director Robert Kauffman of Hagerty, Inc. sold 8,286 shares of stock at an average price of $11.20, totaling approximately $92,803.20, leaving him with a remaining ownership of 964,812 shares.
• Hagerty's stock increased by 0.5% during midday trading, reaching $11.21, following a recent quarterly earnings report that exceeded analysts' expectations.
• Several equities research analysts have rated Hagerty stock, with a consensus rating of "Hold" and a target price of $13.88, indicating potential for future growth.

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert Kauffman sold 8,286 shares of the firm's stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $11.20, for a total transaction of $92,803.20. Following the completion of the transaction, the director directly owned 964,812 shares of the company's stock, valued at $10,805,894.40. This represents a 0.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hagerty Trading Up 0.5%

Hagerty stock traded up $0.06 during midday trading on Tuesday, reaching $11.21. The stock had a trading volume of 114,848 shares, compared to its average volume of 109,897. The firm's fifty day simple moving average is $11.77 and its two-hundred day simple moving average is $10.38. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $13.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 56.03 and a beta of 0.92.

Hagerty (NYSE:HGTY - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. Hagerty had a net margin of 4.88% and a return on equity of 13.76%. The firm had revenue of $368.70 million during the quarter, compared to analyst estimates of $347.15 million. Hagerty has set its FY 2025 guidance at EPS. Equities analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HGTY shares. Evercore ISI started coverage on shares of Hagerty in a research note on Wednesday, August 27th. They set an "outperform" rating and a $14.00 target price for the company. Citigroup started coverage on shares of Hagerty in a research note on Wednesday, October 1st. They set an "outperform" rating for the company. Citizens Jmp started coverage on shares of Hagerty in a research note on Wednesday, October 1st. They set a "mkt outperform" rating and a $15.00 target price for the company. JMP Securities started coverage on shares of Hagerty in a research note on Wednesday, October 1st. They set a "market outperform" rating and a $15.00 target price for the company. Finally, Keefe, Bruyette & Woods started coverage on shares of Hagerty in a research note on Wednesday, August 27th. They set an "outperform" rating and a $14.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $13.88.

Institutional Investors Weigh In On Hagerty

A number of large investors have recently bought and sold shares of HGTY. Neuberger Berman Group LLC boosted its holdings in Hagerty by 15.7% in the first quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company's stock worth $49,438,000 after purchasing an additional 743,597 shares in the last quarter. Greenhaven Road Investment Management L.P. boosted its holdings in Hagerty by 33.2% in the second quarter. Greenhaven Road Investment Management L.P. now owns 1,811,539 shares of the company's stock worth $18,315,000 after purchasing an additional 451,033 shares in the last quarter. Garner Asset Management Corp bought a new stake in Hagerty in the first quarter worth $2,909,000. Scholtz & Company LLC acquired a new position in Hagerty during the 2nd quarter worth $2,429,000. Finally, Lincoln Capital LLC lifted its position in Hagerty by 12.3% during the 1st quarter. Lincoln Capital LLC now owns 555,286 shares of the company's stock worth $4,753,000 after acquiring an additional 60,791 shares during the last quarter. 20.51% of the stock is currently owned by institutional investors.

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.

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