Robert I. Kauffman Sells 3,103 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 3,103 shares of the firm's stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $9.25, for a total value of $28,702.75. Following the transaction, the director now directly owns 3,408,239 shares in the company, valued at $31,526,210.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hagerty Price Performance

NYSE HGTY traded down $0.38 on Friday, reaching $8.91. The company's stock had a trading volume of 129,342 shares, compared to its average volume of 52,678. The firm's 50 day moving average is $8.89 and its two-hundred day moving average is $8.43. The stock has a market cap of $2.99 billion, a PE ratio of 127.29 and a beta of 0.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 1.48. Hagerty, Inc. has a twelve month low of $7.52 and a twelve month high of $9.81.

Hagerty (NYSE:HGTY - Get Free Report) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $245.04 million for the quarter, compared to analysts' expectations of $245.17 million. Hagerty had a return on equity of 4.53% and a net margin of 1.84%. As a group, sell-side analysts predict that Hagerty, Inc. will post 0.19 EPS for the current year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. started coverage on shares of Hagerty in a research report on Thursday, January 11th. They set a "neutral" rating and a $9.00 price target on the stock.

Institutional Trading of Hagerty

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. acquired a new position in shares of Hagerty in the fourth quarter worth about $57,000. Commonwealth Equity Services LLC boosted its stake in Hagerty by 14.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 12,944 shares of the company's stock worth $106,000 after purchasing an additional 1,650 shares during the period. MeadowBrook Investment Advisors LLC purchased a new position in Hagerty during the 4th quarter worth approximately $132,000. Corton Capital Inc. acquired a new stake in Hagerty during the 3rd quarter valued at $133,000. Finally, Quadrature Capital Ltd acquired a new stake in Hagerty during the 3rd quarter valued at $147,000. Institutional investors and hedge funds 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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