Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 8,361 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 8,361 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $9.69, for a total transaction of $81,018.09. Following the completion of the sale, the director now owns 3,971,433 shares of the company’s stock, valued at $38,483,185.77. This trade represents a 0.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Hagerty Trading Up 1.1%

Shares of NYSE HGTY traded up $0.11 during mid-day trading on Monday, reaching $9.79. The company had a trading volume of 66,843 shares, compared to its average volume of 86,086. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 89.00 and a beta of 0.88. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $12.35. The business’s 50-day moving average is $9.01 and its 200-day moving average is $9.91. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23.

Hagerty (NYSE:HGTY) last issued its earnings results on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. The business had revenue of $319.59 million for the quarter, compared to analyst estimates of $299.92 million. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. During the same period last year, the company posted $0.04 earnings per share. Equities analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. decreased their price objective on shares of Hagerty from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th.

Institutional Trading of Hagerty

Hedge funds have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS bought a new stake in shares of Hagerty in the 4th quarter valued at about $31,000. Ancora Advisors LLC purchased a new position in shares of Hagerty in the 4th quarter valued at $46,000. R Squared Ltd bought a new position in shares of Hagerty in the 4th quarter worth $51,000. BNP Paribas Financial Markets purchased a new stake in shares of Hagerty during the 4th quarter worth $84,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Hagerty during the first quarter valued at about $93,000. 20.51% of the stock is owned by hedge funds and other institutional investors.

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.