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

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 12,326 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $10.06, for a total transaction of $123,999.56. Following the completion of the transaction, the director now directly owns 3,839,543 shares in the company, valued at approximately $38,625,802.58. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hagerty Price Performance

Shares of NYSE HGTY traded down $0.04 during trading hours on Friday, hitting $9.47. 81,362 shares of the stock were exchanged, compared to its average volume of 85,502. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $3.24 billion, a PE ratio of 86.08 and a beta of 0.91. The company's fifty day simple moving average is $9.23 and its two-hundred day simple moving average is $9.70. Hagerty, Inc. has a 1-year low of $8.03 and a 1-year high of $12.35.

Hagerty (NYSE:HGTY - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.06. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. The firm had revenue of $319.59 million for the quarter, compared to analyst estimates of $299.92 million. During the same quarter last year, the business posted $0.04 earnings per share. On average, sell-side analysts predict that Hagerty, Inc. will post 0.22 EPS for the current year.

Institutional Trading of Hagerty

A number of hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in shares of Hagerty by 24.9% during the first quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company's stock valued at $338,000 after acquiring an additional 7,459 shares during the last quarter. Lincoln Capital LLC increased its stake in Hagerty by 12.3% in the first quarter. Lincoln Capital LLC now owns 555,286 shares of the company's stock valued at $4,753,000 after purchasing an additional 60,791 shares in the last quarter. Neuberger Berman Group LLC grew its holdings 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 valued at $49,438,000 after buying an additional 743,597 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Hagerty during the first quarter valued at about $108,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Hagerty by 4.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,768 shares of the company's stock valued at $1,291,000 after buying an additional 5,667 shares during the last quarter. Institutional investors and hedge funds own 20.51% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lowered their price target on shares of Hagerty from $11.00 to $10.00 and set a "neutral" rating on the stock in a 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.