Robert I. Kauffman Sells 12,465 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 12,465 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $10.19, for a total value of $127,018.35. Following the transaction, the director owned 3,649,256 shares in the company, valued at approximately $37,185,918.64. This trade represents a 0.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Hagerty Price Performance

Shares of HGTY stock traded down $0.02 during trading hours on Tuesday, reaching $10.14. The company's stock had a trading volume of 90,423 shares, compared to its average volume of 73,530. The firm's 50 day simple moving average is $9.65 and its 200-day simple moving average is $9.53. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 50.70 and a beta of 0.90. Hagerty, Inc. has a fifty-two week low of $8.03 and a fifty-two week 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 0.25.

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. The firm had revenue of $319.59 million for the quarter, compared to the consensus estimate of $299.92 million. Hagerty had a return on equity of 13.55% and a net margin of 4.73%. During the same quarter last year, the business posted $0.04 EPS. Sell-side analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered their target price on Hagerty from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th.

Institutional Investors Weigh In On Hagerty

Hedge funds and other institutional investors have recently bought and sold shares of the company. Markel Group Inc. grew its position in Hagerty by 3.6% during the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company's stock worth $29,992,000 after acquiring an additional 108,000 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Hagerty during the 4th quarter worth $879,000. Steward Partners Investment Advisory LLC grew its position in Hagerty by 35.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock worth $100,000 after acquiring an additional 2,726 shares during the last quarter. Legal & General Group Plc grew its position in Hagerty by 48.6% during the 4th quarter. Legal & General Group Plc now owns 25,148 shares of the company's stock worth $243,000 after acquiring an additional 8,226 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Hagerty during the 4th quarter worth $230,000. 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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