Robert Kauffman Sells 30,187 Shares of Hagerty (NYSE:HGTY) Stock

Key Points

• Robert Kauffman, a director at Hagerty, Inc., sold 30,187 shares of the stock for a total of approximately $361,037, which decreased his ownership by 2.56%.
• Hagerty's stock price has decreased 0.8%, reaching $11.95, with a market capitalization of $4.08 billion and a P/E ratio of 59.73.
• Several brokerages have recently issued reports with a price target ranging from $13.00 to $15.00 per share for Hagerty, with an average rating of "Hold."

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert Kauffman sold 30,187 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $11.96, for a total value of $361,036.52. Following the completion of the sale, the director owned 1,151,249 shares of the company's stock, valued at approximately $13,768,938.04. This trade represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Hagerty Stock Down 0.8%

Hagerty stock traded down $0.10 during midday trading on Wednesday, reaching $11.95. The company's stock had a trading volume of 201,359 shares, compared to its average volume of 110,323. The stock's 50-day simple moving average is $11.39 and its 200-day simple moving average is $10.10. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.06 and a quick ratio of 1.06. Hagerty, Inc. has a 52-week low of $8.03 and a 52-week high of $13.32. The stock has a market capitalization of $4.08 billion, a P/E ratio of 59.73 and a beta of 0.91.

Hagerty (NYSE:HGTY - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.02. Hagerty had a return on equity of 13.76% and a net margin of 4.88%.The company had revenue of $368.70 million during the quarter, compared to analysts' expectations of $347.15 million. Hagerty has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Hagerty, Inc. will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HGTY. Citizens Jmp began coverage on Hagerty in a research note on Wednesday. They issued a "mkt outperform" rating and a $15.00 price objective for the company. Citigroup began coverage on Hagerty in a research note on Wednesday. They issued an "outperform" rating for the company. BMO Capital Markets began coverage on Hagerty in a research note on Monday, September 22nd. They issued a "market perform" rating and a $13.00 price objective for the company. Oppenheimer began coverage on Hagerty in a research note on Wednesday, September 17th. They issued an "outperform" rating and a $15.00 price objective for the company. Finally, JMP Securities began coverage on Hagerty in a research note on Wednesday. They issued a "market outperform" rating and a $15.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Hagerty has an average rating of "Hold" and an average target price of $13.71.

Institutional Trading of Hagerty

A number of institutional investors have recently made changes to their positions in HGTY. IFP Advisors Inc acquired a new stake in shares of Hagerty in the second quarter worth approximately $30,000. Osaic Holdings Inc. boosted its stake in shares of Hagerty by 2,374.5% in the second quarter. Osaic Holdings Inc. now owns 4,949 shares of the company's stock worth $50,000 after acquiring an additional 4,749 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of 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 acquiring an additional 2,726 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Hagerty in the first quarter worth approximately $93,000. Finally, KLP Kapitalforvaltning AS boosted its stake in shares of Hagerty by 228.1% in the second quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company's stock worth $106,000 after acquiring an additional 7,300 shares during the last quarter. 20.51% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.