Hagerty, Inc. (NYSE:HGTY) Director Sells $15,087.27 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 1,441 shares of Hagerty stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $10.47, for a total transaction of $15,087.27. Following the sale, the director now owns 5,062,312 shares in the company, valued at approximately $53,002,406.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hagerty Price Performance

NYSE:HGTY opened at $10.36 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $11.00 and its 200 day moving average price is $10.31. Hagerty, Inc. has a 52-week low of $7.52 and a 52-week high of $12.35. The firm has a market cap of $3.49 billion, a P/E ratio of 172.67 and a beta of 0.79.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. bought a new stake in shares of Hagerty during the 2nd quarter worth $39,000. Meixler Investment Management Ltd. boosted its position in shares of Hagerty by 21.2% in the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock valued at $223,000 after purchasing an additional 4,250 shares during the period. Algert Global LLC purchased a new position in Hagerty in the 2nd quarter worth about $108,000. Dimensional Fund Advisors LP acquired a new stake in Hagerty during the 2nd quarter worth about $139,000. Finally, Lakewood Asset Management LLC purchased a new stake in Hagerty during the third quarter valued at about $186,000. Institutional investors own 20.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on HGTY shares. JPMorgan Chase & Co. boosted their price target on shares of Hagerty from $9.50 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Truist Financial upped their target price on Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th.

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.