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Robert I. Kauffman Sells 7,747 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty logo with Finance background

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 7,747 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $9.82, for a total value of $76,075.54. Following the completion of the transaction, the director now owns 3,781,324 shares of the company's stock, valued at $37,132,601.68. This trade represents a 0.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hagerty Stock Up 0.9%

HGTY stock opened at $10.16 on Friday. The stock has a fifty day moving average of $9.48 and a 200-day moving average of $9.58. Hagerty, Inc. has a fifty-two week low of $8.03 and a fifty-two week high of $12.35. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 50.82 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.01.

Hagerty (NYSE:HGTY - Get Free Report) last issued its 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 firm 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 quarter last year, the business earned $0.04 earnings per share. As a group, equities research analysts predict that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Hagerty

A number of large investors have recently made changes to their positions in HGTY. KLP Kapitalforvaltning AS purchased a new stake in Hagerty during the 4th quarter worth about $31,000. Ancora Advisors LLC bought a new stake in shares of Hagerty during the fourth quarter valued at about $46,000. BNP Paribas Financial Markets bought a new position in shares of Hagerty in the fourth quarter valued at approximately $84,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Hagerty during the first quarter valued at approximately $93,000. Finally, Steward Partners Investment Advisory LLC grew its stake in Hagerty by 35.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock valued at $100,000 after acquiring an additional 2,726 shares in the last quarter. 20.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Get Our Latest Report on HGTY

Hagerty Company Profile

(Get Free Report)

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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