Hagerty, Inc. (NYSE:HGTY) Director Sells $125,500.00 in Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 12,500 shares of Hagerty stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $10.04, for a total value of $125,500.00. Following the completion of the sale, the director directly owned 3,674,735 shares of the company's stock, valued at $36,894,339.40. The trade was a 0.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Hagerty Stock Up 1.6%

Shares of NYSE:HGTY traded up $0.16 during trading on Thursday, hitting $10.19. The company's stock had a trading volume of 33,435 shares, compared to its average volume of 73,472. Hagerty, Inc. has a fifty-two week low of $8.03 and a fifty-two week high of $12.35. The business has a 50 day moving average price of $9.59 and a two-hundred day moving average price of $9.56. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $3.48 billion, a PE ratio of 50.95 and a beta of 0.90.

Hagerty (NYSE:HGTY - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.02 by $0.06. Hagerty had a return on equity of 13.55% and a net margin of 4.73%. The firm had revenue of $319.59 million during the quarter, compared to analysts' expectations of $299.92 million. During the same period in the previous year, the firm posted $0.04 EPS. As a group, research analysts expect that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Hagerty

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Neuberger Berman Group LLC lifted its stake 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 acquiring an additional 743,597 shares during the last quarter. Markel Group Inc. raised its holdings in shares of Hagerty by 3.6% in the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company's stock valued at $29,992,000 after purchasing an additional 108,000 shares in the last quarter. Greenhaven Road Investment Management L.P. raised its holdings in shares of Hagerty by 10.1% in the 1st quarter. Greenhaven Road Investment Management L.P. now owns 1,360,506 shares of the company's stock valued at $12,299,000 after purchasing an additional 124,336 shares in the last quarter. Lincoln Capital LLC lifted its position in shares of 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 purchasing an additional 60,791 shares during the last quarter. Finally, Garner Asset Management Corp acquired a new position in shares of Hagerty during the first quarter worth $2,909,000. 20.51% of the stock is owned by institutional investors and hedge funds.

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.