Insider Buying: Hagerty, Inc. (NYSE:HGTY) Director Acquires $18,880.00 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Anthony J. Kuczinski bought 2,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average price of $9.44 per share, for a total transaction of $18,880.00. Following the completion of the purchase, the director now directly owns 26,277 shares in the company, valued at $248,054.88. The trade was a 8.24% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Hagerty Stock Performance

NYSE HGTY opened at $9.72 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 88.39 and a beta of 0.88. The company’s fifty day moving average is $9.01 and its two-hundred day moving average is $9.91. Hagerty, Inc. has a 52-week low of $8.03 and a 52-week high of $12.35.

Hagerty (NYSE:HGTY) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.06. The company 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 business posted $0.04 EPS. Equities research analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current year.

Institutional Trading of Hagerty

Institutional investors have recently made changes to their positions in the business. Markel Group Inc. boosted its position in shares of Hagerty by 3.6% during the 4th quarter. Markel Group Inc. now owns 3,108,000 shares of the company’s stock valued at $29,992,000 after acquiring an additional 108,000 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Hagerty during the 4th quarter valued at about $879,000. Lincoln Capital LLC boosted its position in shares of Hagerty by 6.7% during the 4th quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock valued at $4,772,000 after acquiring an additional 31,068 shares in the last quarter. Pembroke Management LTD acquired a new stake in shares of Hagerty during the 4th quarter valued at about $9,201,000. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Hagerty by 35.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock valued at $100,000 after acquiring an additional 2,726 shares in the last quarter. 20.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.