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

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 business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $8.92, for a total value of $1,946,790.00. Following the transaction, the director owned 1,503,412 shares of the company's stock, valued at approximately $13,410,435.04. This trade represents a 12.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Hagerty Stock Down 1.0%

HGTY traded down $0.12 on Monday, hitting $11.08. The company had a trading volume of 19,164 shares, compared to its average volume of 94,112. The stock has a fifty day moving average price of $10.19 and a 200-day moving average price of $9.67. 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 0.27, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 55.35 and a beta of 0.90.

Hagerty (NYSE:HGTY - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $368.70 million for the quarter, compared to analyst estimates of $347.15 million. Hagerty had a net margin of 4.88% and a return on equity of 13.76%. Analysts predict that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Trading of Hagerty

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in Hagerty by 2,185.4% during the fourth quarter. JPMorgan Chase & Co. now owns 29,139 shares of the company's stock worth $281,000 after purchasing an additional 27,864 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Hagerty by 48.6% in the 4th quarter. Legal & General Group Plc now owns 25,148 shares of the company's stock valued at $243,000 after purchasing an additional 8,226 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Hagerty by 21.6% in the fourth quarter. Renaissance Technologies LLC now owns 193,896 shares of the company's stock valued at $1,871,000 after purchasing an additional 34,500 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Hagerty in the fourth quarter valued at $879,000. Finally, XTX Topco Ltd acquired a new stake in Hagerty in the fourth quarter valued at $119,000. 20.51% of the stock is owned by institutional investors and hedge funds.

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.