Robert Kauffman Sells 15,000 Shares of Hagerty (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert Kauffman sold 15,000 shares of the stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $11.12, for a total value of $166,800.00. Following the completion of the sale, the director directly owned 928,098 shares of the company’s stock, valued at approximately $10,320,449.76. The trade was a 1.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Hagerty Trading Down 0.7%

Shares of HGTY stock opened at $11.10 on Friday. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 55.49 and a beta of 0.92. The stock has a 50-day moving average of $11.78 and a 200-day moving average of $10.44. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.27. Hagerty, Inc. has a 1-year low of $8.03 and a 1-year high of $13.32.

Hagerty (NYSE:HGTY) last issued its quarterly earnings results 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. The company had revenue of $368.70 million during the quarter, compared to analysts’ expectations of $347.15 million. Hagerty had a return on equity of 13.76% and a net margin of 4.88%. Hagerty has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Hagerty

A number of hedge funds have recently added to or reduced their stakes in HGTY. Neuberger Berman Group LLC grew its stake in Hagerty by 15.7% in the first quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company’s stock valued at $49,438,000 after acquiring an additional 743,597 shares during the period. Greenhaven Road Investment Management L.P. grew its stake in Hagerty by 33.2% in the second quarter. Greenhaven Road Investment Management L.P. now owns 1,811,539 shares of the company’s stock valued at $18,315,000 after acquiring an additional 451,033 shares during the period. Garner Asset Management Corp acquired a new stake in Hagerty in the first quarter valued at approximately $2,909,000. Scholtz & Company LLC acquired a new stake in Hagerty in the second quarter valued at approximately $2,429,000. Finally, Lincoln Capital LLC grew its stake in Hagerty by 12.3% in the first quarter. Lincoln Capital LLC now owns 555,286 shares of the company’s stock valued at $4,753,000 after acquiring an additional 60,791 shares during the period. Institutional investors and hedge funds own 20.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Hagerty from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Keefe, Bruyette & Woods assumed coverage on Hagerty in a research report on Wednesday, August 27th. They set an “outperform” rating and a $14.00 target price on the stock. Citizens Jmp assumed coverage on Hagerty in a research report on Wednesday, October 1st. They set a “mkt outperform” rating and a $15.00 target price on the stock. Evercore ISI assumed coverage on Hagerty in a research report on Wednesday, August 27th. They set an “outperform” rating and a $14.00 target price on the stock. Finally, Oppenheimer assumed coverage on Hagerty in a research report on Wednesday, September 17th. They set an “outperform” rating and a $15.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.