Insider Selling: Hagerty (NYSE:HGTY) Director Sells 17,622 Shares of Stock

Key Points

• Robert Kauffman, a director at Hagerty, sold 17,622 shares at an average price of $12.46, reducing his ownership by 1.42% and maintaining a total of 1,221,389 shares valued at approximately $15.2 million.
• Hagerty reported revenue of $368.70 million and earnings per share of $0.13 for its last quarter, exceeding estimates and setting guidance for FY 2025 at 0.22 EPS.
• Analysts have given Hagerty a mixed rating, with two recommending a Buy, one a Hold, and one a Sell, while the consensus price target stands at $13.25.

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 17,622 shares of the firm's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $12.46, for a total transaction of $219,570.12. Following the transaction, the director directly owned 1,221,389 shares in the company, valued at approximately $15,218,506.94. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Hagerty Price Performance

HGTY stock traded down $0.22 during mid-day trading on Friday, hitting $12.76. The stock had a trading volume of 1,021,266 shares, compared to its average volume of 175,047. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.27. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $13.32. The firm has a market capitalization of $4.36 billion, a P/E ratio of 63.80 and a beta of 0.91. The firm has a fifty day simple moving average of $11.10 and a 200 day simple moving average of $9.97.

Hagerty (NYSE:HGTY - Get Free Report) last released its 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. Hagerty had a net margin of 4.88% and a return on equity of 13.76%. The firm had revenue of $368.70 million for the quarter, compared to analyst estimates of $347.15 million. Hagerty has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

HGTY has been the topic of several research reports. Keefe, Bruyette & Woods assumed coverage on shares of Hagerty in a report on Wednesday, August 27th. They set an "outperform" rating and a $14.00 price target on the stock. Evercore ISI assumed coverage on shares of Hagerty in a research report on Wednesday, August 27th. They issued an "outperform" rating and a $14.00 price target on the stock. Finally, Oppenheimer assumed coverage on shares of Hagerty in a research report on Wednesday. They issued an "outperform" rating and a $15.00 price target on the stock. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Hagerty presently has an average rating of "Hold" and an average price target of $13.25.

Hedge Funds Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC lifted its holdings in Hagerty by 15.7% during the first quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company's stock valued at $49,438,000 after purchasing an additional 743,597 shares during the last quarter. Greenhaven Road Investment Management L.P. lifted its holdings in Hagerty by 33.2% during the second quarter. Greenhaven Road Investment Management L.P. now owns 1,811,539 shares of the company's stock valued at $18,315,000 after purchasing an additional 451,033 shares during the last quarter. Garner Asset Management Corp purchased a new stake in Hagerty during the first quarter valued at about $2,909,000. Scholtz & Company LLC purchased a new stake in Hagerty during the second quarter valued at about $2,429,000. Finally, Lincoln Capital LLC lifted its holdings in Hagerty by 12.3% during the first quarter. Lincoln Capital LLC now owns 555,286 shares of the company's stock valued at $4,753,000 after purchasing an additional 60,791 shares during the last quarter. 20.51% of the stock is owned by hedge funds and other institutional investors.

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.