Robert I. Kauffman Sells 3,693 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,693 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $9.86, for a total value of $36,412.98. Following the completion of the transaction, the director now directly owns 4,348,872 shares of the company’s stock, valued at approximately $42,879,877.92. This trade represents a 0.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hagerty Stock Performance

Shares of Hagerty stock opened at $9.76 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 88.73 and a beta of 0.86. The business has a 50-day moving average of $10.41 and a 200 day moving average of $10.79. Hagerty, Inc. has a 12 month low of $7.87 and a 12 month high of $12.35.

Hagerty (NYSE:HGTY) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The firm had revenue of $323.37 million during the quarter, compared to analyst estimates of $318.07 million. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. During the same quarter in the previous year, the business posted $0.05 earnings per share. As a group, sell-side analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently bought and sold shares of HGTY. Meixler Investment Management Ltd. grew its stake in shares of Hagerty by 9.7% during the 3rd quarter. Meixler Investment Management Ltd. now owns 27,455 shares of the company’s stock worth $279,000 after purchasing an additional 2,430 shares during the period. 17 Capital Partners LLC increased its stake 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 in the last quarter. R Squared Ltd purchased a new stake in Hagerty during the fourth quarter worth $51,000. Barclays PLC grew its holdings in Hagerty by 23.0% in the third 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, FMR LLC raised its stake in shares of Hagerty by 25,769.2% during the 3rd quarter. FMR LLC now owns 6,726 shares of the company’s stock worth $68,000 after buying an additional 6,700 shares during the last quarter. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.