Hagerty, Inc. (NYSE:HGTY) Director Sells $83,620.00 in Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 8,362 shares of Hagerty stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $10.00, for a total value of $83,620.00. Following the sale, the director owned 3,490,919 shares in the company, valued at $34,909,190. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Hagerty Stock Up 0.4%

Shares of HGTY traded up $0.04 during trading hours on Friday, hitting $10.08. 77,246 shares of the company were exchanged, compared to its average volume of 72,041. The company has a market cap of $3.44 billion, a PE ratio of 50.40 and a beta of 0.90. The firm's 50 day moving average is $9.81 and its 200-day moving average is $9.55. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $12.35. 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 posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.02 by $0.06. Hagerty had a return on equity of 13.55% and a net margin of 4.73%. The firm had revenue of $319.59 million during the quarter, compared to analysts' expectations of $299.92 million. During the same quarter in the prior year, the firm posted $0.04 EPS. On average, equities research analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC increased its position in shares of Hagerty by 15.7% in the first quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company's stock valued at $49,438,000 after acquiring an additional 743,597 shares during the last quarter. Garner Asset Management Corp acquired a new position in shares of Hagerty in the first quarter valued at approximately $2,909,000. Greenhaven Road Investment Management L.P. boosted its stake in shares of Hagerty by 10.1% in the first quarter. Greenhaven Road Investment Management L.P. now owns 1,360,506 shares of the company's stock valued at $12,299,000 after buying an additional 124,336 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of Hagerty in the fourth quarter valued at approximately $997,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Hagerty in the fourth quarter valued at approximately $879,000. 20.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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 report on Tuesday, April 8th.

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.