Robert Kauffman Sells 14,644 Shares of Hagerty (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert Kauffman sold 14,644 shares of the business’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $11.33, for a total value of $165,916.52. Following the sale, the director directly owned 973,098 shares of the company’s stock, valued at $11,025,200.34. This represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Hagerty Stock Down 0.7%

Shares of NYSE HGTY opened at $11.17 on Thursday. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year high of $13.32. The firm’s 50-day moving average is $11.78 and its 200-day moving average is $10.39. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $3.82 billion, a PE ratio of 55.84 and a beta of 0.92.

Hagerty (NYSE:HGTY) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. Hagerty had a net margin of 4.88% and a return on equity of 13.76%. The business had revenue of $368.70 million for the quarter, compared to analyst estimates of $347.15 million. Hagerty has set its FY 2025 guidance at EPS. Equities analysts expect that Hagerty, Inc. will post 0.22 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc bought a new stake in shares of Hagerty during the second quarter worth $30,000. Osaic Holdings Inc. lifted its position in Hagerty by 2,374.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock valued at $50,000 after acquiring an additional 4,749 shares in the last quarter. Bank of America Corp DE boosted its stake in Hagerty by 46.6% in the 2nd quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock worth $87,000 after purchasing an additional 2,726 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Hagerty during the 1st quarter worth about $93,000. Finally, KLP Kapitalforvaltning AS raised its stake in shares of Hagerty by 228.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock valued at $106,000 after purchasing an additional 7,300 shares during the period. Institutional investors own 20.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Oppenheimer started coverage on Hagerty in a research note on Wednesday, September 17th. They set an “outperform” rating and a $15.00 price objective for the company. Evercore ISI started coverage on Hagerty in a report on Wednesday, August 27th. They set an “outperform” rating and a $14.00 target price on the stock. Wells Fargo & Company began coverage on Hagerty in a research report on Friday, October 3rd. They set an “equal weight” rating and a $13.00 target price for the company. Keefe, Bruyette & Woods initiated coverage on Hagerty in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $14.00 price target for the company. Finally, Wall Street Zen cut shares of Hagerty from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.88.

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.