Robert I. Kauffman Sells 8,362 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 8,362 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $10.00, for a total value of $83,620.00. Following the transaction, the director owned 3,490,919 shares of the company's stock, valued at approximately $34,909,190. The trade was a 0.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Hagerty Trading Up 0.9%

HGTY traded up $0.09 on Thursday, hitting $10.09. The company had a trading volume of 35,492 shares, compared to its average volume of 72,027. The company has a market cap of $3.45 billion, a PE ratio of 50.43 and a beta of 0.90. Hagerty, Inc. has a 12-month low of $8.03 and a 12-month high of $12.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.25. The business's fifty day simple moving average is $9.80 and its 200 day simple moving average is $9.54.

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

Institutional Trading of Hagerty

Institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Hagerty in the fourth quarter worth about $879,000. Steward Partners Investment Advisory LLC lifted its stake in Hagerty by 35.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company's stock worth $100,000 after purchasing an additional 2,726 shares during the last quarter. Legal & General Group Plc lifted its stake in Hagerty by 48.6% in the fourth quarter. Legal & General Group Plc now owns 25,148 shares of the company's stock worth $243,000 after purchasing an additional 8,226 shares during the last quarter. Jane Street Group LLC bought a new stake in Hagerty in the fourth quarter worth about $230,000. Finally, XTX Topco Ltd bought a new stake in shares of Hagerty during the fourth quarter valued at approximately $119,000. Institutional investors own 20.51% of the company's stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. cut 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.

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.