Hagerty, Inc. (NYSE:HGTY) Director Sells $26,670.75 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 2,481 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $10.75, for a total value of $26,670.75. Following the completion of the transaction, the director now directly owns 5,154,354 shares in the company, valued at approximately $55,409,305.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hagerty Trading Down 0.9 %

Shares of HGTY stock opened at $10.43 on Friday. The stock has a market cap of $3.56 billion, a P/E ratio of 173.86 and a beta of 0.81. Hagerty, Inc. has a 1 year low of $7.52 and a 1 year high of $12.35. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $11.12 and a 200 day simple moving average of $10.07.

Hagerty (NYSE:HGTY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. The firm had revenue of $313.23 million during the quarter, compared to analysts’ expectations of $312.64 million. Hagerty had a return on equity of 15.68% and a net margin of 5.37%. On average, research analysts predict that Hagerty, Inc. will post 0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hagerty

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Hagerty by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock worth $18,559,000 after acquiring an additional 21,331 shares during the period. Confluence Investment Management LLC acquired a new position in Hagerty during the first quarter valued at approximately $3,473,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in Hagerty by 34.7% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock worth $806,000 after purchasing an additional 26,600 shares during the last quarter. Meixler Investment Management Ltd. lifted its stake in Hagerty by 21.2% during the first quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after purchasing an additional 4,250 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Hagerty in the 2nd quarter valued at $139,000. 20.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on HGTY shares. JPMorgan Chase & Co. upped their price objective on Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Truist Financial upped their price target on shares of Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Thursday, August 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.