Robert Kauffman Sells 23,392 Shares of Hagerty (NYSE:HGTY) Stock

Key Points

• Robert Kauffman, Director of Hagerty, Inc., sold 23,392 shares at an average price of $11.64, reducing his ownership by 2.31% and leaving him with a total of 987,742 shares.
• Hagerty's stock is currently trading at $11.41, with a market capitalization of $3.90 billion and a P/E ratio of 57.05.
• Analysts have given Hagerty an average rating of "Hold," with projections indicating an EPS of 0.22 for the current fiscal year.

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert Kauffman sold 23,392 shares of the business's stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $11.64, for a total transaction of $272,282.88. Following the completion of the sale, the director owned 987,742 shares of the company's stock, valued at $11,497,316.88. The trade was a 2.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Hagerty Stock Performance

NYSE:HGTY traded down $0.75 during midday trading on Thursday, reaching $11.41. The stock had a trading volume of 202,279 shares, compared to its average volume of 109,714. Hagerty, Inc. has a 1-year low of $8.03 and a 1-year high of $13.32. The firm's fifty day simple moving average is $11.71 and its 200-day simple moving average is $10.31. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $3.90 billion, a P/E ratio of 57.05 and a beta of 0.92.

Hagerty (NYSE:HGTY - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $347.15 million. Hagerty has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citigroup assumed coverage on Hagerty in a research note on Wednesday, October 1st. They set an "outperform" rating for the company. Keefe, Bruyette & Woods assumed coverage on Hagerty in a report on Wednesday, August 27th. They set an "outperform" rating and a $14.00 price target for the company. Citizens Jmp assumed coverage on shares of Hagerty in a research note on Wednesday, October 1st. They issued a "mkt outperform" rating and a $15.00 price objective on the stock. Evercore ISI assumed coverage on shares of Hagerty in a report on Wednesday, August 27th. They issued an "outperform" rating and a $14.00 price target for the company. Finally, Oppenheimer began coverage on shares of Hagerty in a research report on Wednesday, September 17th. They issued an "outperform" rating and a $15.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $13.88.

Institutional Investors Weigh In On Hagerty

Several institutional investors and hedge funds have recently bought and sold shares of HGTY. IFP Advisors Inc acquired a new position in shares of Hagerty in the 2nd quarter valued at $30,000. Osaic Holdings Inc. increased its stake in Hagerty by 2,374.5% in the second quarter. Osaic Holdings Inc. now owns 4,949 shares of the company's stock valued at $50,000 after acquiring an additional 4,749 shares during the period. Bank of America Corp DE raised its position in Hagerty by 46.6% in the second quarter. Bank of America Corp DE now owns 8,571 shares of the company's stock worth $87,000 after purchasing an additional 2,726 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Hagerty during the first quarter worth about $93,000. Finally, KLP Kapitalforvaltning AS lifted its stake in Hagerty by 228.1% during the second quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company's stock worth $106,000 after purchasing an additional 7,300 shares during the period. 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.

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