Robert I. Kauffman Sells 40,393 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 40,393 shares of Hagerty stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $10.19, for a total transaction of $411,604.67. Following the transaction, the director owned 3,315,990 shares of the company's stock, valued at $33,789,938.10. This represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hagerty Stock Up 0.6%

Hagerty stock traded up $0.06 during trading on Monday, hitting $10.81. 47,465 shares of the company were exchanged, compared to its average volume of 88,278. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25. The business's 50 day moving average is $9.91 and its 200 day moving average is $9.58. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $12.35. The company has a market capitalization of $3.69 billion, a P/E ratio of 54.05 and a beta of 0.90.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Hagerty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in shares of Hagerty during the 4th quarter valued at $182,000. Charles Schwab Investment Management Inc. grew its position in Hagerty by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 140,037 shares of the company's stock valued at $1,351,000 after buying an additional 8,258 shares during the period. Raymond James Financial Inc. purchased a new stake in Hagerty during the fourth quarter worth about $879,000. Swiss National Bank raised its position in Hagerty by 6.0% in the fourth quarter. Swiss National Bank now owns 53,000 shares of the company's stock worth $511,000 after acquiring an additional 3,000 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in Hagerty in the fourth quarter valued at about $31,000. Hedge funds and other 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.