Robert I. Kauffman Sells 3,036 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,036 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $9.07, for a total transaction of $27,536.52. Following the completion of the sale, the director now owns 3,421,036 shares in the company, valued at approximately $31,028,796.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Hagerty Stock Performance

NYSE HGTY traded down $0.11 during trading hours on Thursday, hitting $8.81. 32,426 shares of the company’s stock traded hands, compared to its average volume of 54,550. Hagerty, Inc. has a 52 week low of $7.52 and a 52 week high of $10.36. The firm has a market capitalization of $2.96 billion, a P/E ratio of 127.43 and a beta of 0.77. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. The business’s fifty day moving average price is $8.79 and its two-hundred day moving average price is $8.35.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $245.04 million during the quarter, compared to analyst estimates of $245.17 million. Hagerty had a return on equity of 4.53% and a net margin of 1.84%. Equities research analysts predict that Hagerty, Inc. will post 0.19 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HGTY. Barclays PLC lifted its position in shares of Hagerty by 227.0% in the second quarter. Barclays PLC now owns 6,474 shares of the company’s stock valued at $61,000 after acquiring an additional 4,494 shares in the last quarter. Blue Trust Inc. purchased a new position in Hagerty in the 4th quarter worth approximately $57,000. Commonwealth Equity Services LLC boosted its stake in Hagerty by 14.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 12,944 shares of the company’s stock worth $106,000 after purchasing an additional 1,650 shares during the period. Corton Capital Inc. purchased a new stake in Hagerty during the 3rd quarter valued at approximately $133,000. Finally, MeadowBrook Investment Advisors LLC purchased a new position in shares of Hagerty in the fourth quarter worth $132,000. 20.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. initiated coverage on Hagerty in a research note on Thursday, January 11th. They issued a “neutral” rating and a $9.00 price target on the stock.

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.