Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 12,326 Shares of Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 12,326 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $10.06, for a total value of $123,999.56. Following the completion of the transaction, the director now owns 3,839,543 shares of the company's stock, valued at approximately $38,625,802.58. The trade was a 0.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Hagerty Stock Performance

Shares of HGTY stock traded down $0.10 on Friday, hitting $9.42. The company had a trading volume of 4,368 shares, compared to its average volume of 65,508. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $12.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. The firm has a market cap of $3.22 billion, a P/E ratio of 85.59 and a beta of 0.91. The company has a 50-day moving average price of $9.21 and a 200-day moving average price of $9.71.

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 company had revenue of $319.59 million during the quarter, compared to the consensus estimate of $299.92 million. Hagerty had a return on equity of 12.06% and a net margin of 5.27%. During the same period in the previous year, the company posted $0.04 earnings per share. As a group, equities research analysts predict that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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 note on Tuesday, April 8th.

Institutional Trading of Hagerty

A number of hedge funds have recently added to or reduced their stakes in HGTY. KLP Kapitalforvaltning AS purchased a new position in Hagerty in the fourth quarter valued at $31,000. Ancora Advisors LLC acquired a new stake in shares of Hagerty during the 4th quarter valued at about $46,000. BNP Paribas Financial Markets purchased a new position in shares of Hagerty in the 4th quarter valued at about $84,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Hagerty in the 1st quarter valued at about $93,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in Hagerty by 35.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock worth $100,000 after purchasing an additional 2,726 shares during the period. 20.51% of the stock is owned by hedge funds and other 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.