Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 5,044 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 5,044 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $9.70, for a total value of $48,926.80. Following the sale, the director now owns 4,361,998 shares of the company’s stock, valued at approximately $42,311,380.60. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Hagerty Stock Performance

HGTY opened at $9.70 on Friday. Hagerty, Inc. has a twelve month low of $7.82 and a twelve month high of $12.35. The firm has a market capitalization of $3.31 billion, a PE ratio of 88.14 and a beta of 0.86. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $10.51 and its 200 day moving average price is $10.83.

Hagerty (NYSE:HGTY) last issued its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.03). Hagerty had a return on equity of 12.06% and a net margin of 5.27%. The company had revenue of $323.37 million for the quarter, compared to analyst estimates of $318.07 million. During the same quarter in the prior year, the firm earned $0.05 earnings per share. As a group, sell-side analysts expect that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Raymond James cut Hagerty from a “market perform” rating to an “underperform” rating in a research report on Thursday, December 26th.

Institutional Trading of Hagerty

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lincoln Capital LLC boosted its position in shares of Hagerty by 6.7% during the 4th quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock valued at $4,772,000 after acquiring an additional 31,068 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Hagerty by 376.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,143 shares of the company’s stock worth $988,000 after purchasing an additional 76,740 shares during the period. 17 Capital Partners LLC boosted its holdings in Hagerty by 10.0% in the 3rd quarter. 17 Capital Partners LLC now owns 55,000 shares of the company’s stock valued at $559,000 after purchasing an additional 5,000 shares during the last quarter. Barclays PLC boosted its holdings in Hagerty by 23.0% in the 3rd quarter. Barclays PLC now owns 31,675 shares of the company’s stock valued at $321,000 after purchasing an additional 5,932 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Hagerty by 188.6% in the 4th quarter. Blue Trust Inc. now owns 30,423 shares of the company’s stock valued at $309,000 after buying an additional 19,881 shares during the period. 20.51% of the stock is owned by institutional investors and hedge funds.

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.