Hagerty (NYSE:HGTY) Director Robert Kauffman Sells 15,270 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert Kauffman sold 15,270 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $11.12, for a total value of $169,802.40. Following the sale, the director owned 898,097 shares of the company’s stock, valued at approximately $9,986,838.64. This represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Hagerty Trading Down 1.2%

Hagerty stock opened at $11.05 on Wednesday. The business has a 50-day simple moving average of $11.78 and a two-hundred day simple moving average of $10.49. The company has a market cap of $3.78 billion, a P/E ratio of 55.25 and a beta of 0.92. Hagerty, Inc. has a 52-week low of $8.03 and a 52-week high of $13.32. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.27.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC lifted its holdings in Hagerty by 15.7% in the 1st quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company’s stock worth $49,438,000 after purchasing an additional 743,597 shares in the last quarter. Lincoln Capital LLC lifted its holdings in Hagerty by 9.4% in the 2nd quarter. Lincoln Capital LLC now owns 607,309 shares of the company’s stock worth $6,140,000 after purchasing an additional 52,023 shares in the last quarter. IFP Advisors Inc purchased a new position in Hagerty in the 2nd quarter worth approximately $30,000. Greenhaven Road Investment Management L.P. lifted its holdings in Hagerty by 10.1% in the 1st quarter. Greenhaven Road Investment Management L.P. now owns 1,360,506 shares of the company’s stock worth $12,299,000 after purchasing an additional 124,336 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Hagerty by 15.3% in the 1st quarter. Swiss National Bank now owns 61,100 shares of the company’s stock worth $552,000 after purchasing an additional 8,100 shares in the last quarter. 20.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on HGTY shares. Wells Fargo & Company started coverage on Hagerty in a research report on Friday, October 3rd. They set an “equal weight” rating and a $13.00 price objective on the stock. Oppenheimer started coverage on Hagerty in a research report on Wednesday, September 17th. They set an “outperform” rating and a $15.00 price objective on the stock. Evercore ISI started coverage on Hagerty in a research report on Wednesday, August 27th. They set an “outperform” rating and a $14.00 price objective on the stock. Citigroup started coverage on Hagerty in a research report on Wednesday, October 1st. They set an “outperform” rating on the stock. Finally, Wall Street Zen cut 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 stock has an average rating of “Hold” and an average target price of $13.88.

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.