Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 218,250 Shares

Key Points

• Director Robert I. Kauffman sold 218,250 shares of Hagerty, Inc. at an average price of $8.92, totaling approximately $1.95 million, which resulted in a 12.68% decrease in his ownership.
• Hagerty reported $0.13 earnings per share in its last quarterly report, surpassing the consensus estimate of $0.11, with revenues of $368.70 million.
• Institutional investors own 20.51% of Hagerty's stock, with several newly acquiring stakes worth amounts ranging from $30,000 to $104,000 in recent quarters.

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 218,250 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $8.92, for a total transaction of $1,946,790.00. Following the sale, the director owned 1,503,412 shares in the company, valued at approximately $13,410,435.04. This trade represents a 12.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hagerty Trading Up 1.5%

NYSE HGTY traded up $0.16 during mid-day trading on Friday, reaching $11.19. 104,946 shares of the stock were exchanged, compared to its average volume of 269,862. Hagerty, Inc. has a 1-year low of $8.03 and a 1-year high of $12.35. The business's fifty day simple moving average is $10.19 and its 200 day simple moving average is $9.67. The stock has a market capitalization of $3.83 billion, a PE ratio of 55.95 and a beta of 0.90. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.06 and a current ratio of 1.06.

Hagerty (NYSE:HGTY - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. Hagerty had a net margin of 4.88% and a return on equity of 13.76%. The firm had revenue of $368.70 million for the quarter, compared to analyst estimates of $347.15 million. On average, research analysts anticipate that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hagerty

A number of hedge funds have recently made changes to their positions in HGTY. Neuberger Berman Group LLC boosted its holdings in shares of Hagerty by 15.7% in the 1st quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company's stock valued at $49,438,000 after purchasing an additional 743,597 shares during the last quarter. Greenhaven Road Investment Management L.P. boosted its holdings in shares of Hagerty by 33.2% in the 2nd quarter. Greenhaven Road Investment Management L.P. now owns 1,811,539 shares of the company's stock valued at $18,315,000 after purchasing an additional 451,033 shares during the last quarter. Garner Asset Management Corp acquired a new position in shares of Hagerty during the 1st quarter valued at $2,909,000. Scholtz & Company LLC acquired a new position in shares of Hagerty during the 2nd quarter valued at $2,429,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of Hagerty during the 4th quarter valued at $997,000. Institutional investors and hedge funds 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.