Robert I. Kauffman Sells 12,610 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 12,610 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $10.05, for a total value of $126,730.50. Following the sale, the director now owns 3,725,894 shares of the company's stock, valued at approximately $37,445,234.70. This represents a 0.34% 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 link.

Hagerty Stock Performance

Shares of HGTY stock traded up $0.09 during trading hours on Friday, reaching $10.16. 63,184 shares of the company traded hands, compared to its average volume of 77,024. The firm has a 50-day moving average price of $9.45 and a 200 day moving average price of $9.59. The company has a market cap of $3.47 billion, a P/E ratio of 50.82 and a beta of 0.91. Hagerty, Inc. has a 12-month low of $8.03 and a 12-month high of $12.35. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.01.

Hagerty (NYSE:HGTY - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.06. The business had revenue of $319.59 million during the quarter, compared to analyst estimates of $299.92 million. Hagerty had a net margin of 4.73% and a return on equity of 13.55%. During the same period in the prior year, the business posted $0.04 earnings per share. As a group, sell-side analysts predict that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hagerty

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its stake in Hagerty by 24.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company's stock valued at $338,000 after purchasing an additional 7,459 shares during the period. Lincoln Capital LLC grew its holdings in Hagerty by 12.3% during the 1st quarter. Lincoln Capital LLC now owns 555,286 shares of the company's stock valued at $4,753,000 after buying an additional 60,791 shares in the last quarter. Neuberger Berman Group LLC raised its position 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 purchased a new position in shares of Hagerty in the first quarter worth $108,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Hagerty by 4.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,768 shares of the company's stock worth $1,291,000 after buying an additional 5,667 shares in the last quarter. Hedge funds and other institutional investors own 20.51% of the company's stock.

Analyst Ratings Changes

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

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.

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