Robert I. Kauffman Sells 3,465 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,465 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $9.02, for a total value of $31,254.30. Following the transaction, the director now owns 3,424,072 shares of the company’s stock, valued at $30,885,129.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Hagerty Trading Up 0.3 %

HGTY stock opened at $8.65 on Friday. Hagerty, Inc. has a 1-year low of $7.52 and a 1-year high of $10.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 123.57 and a beta of 0.77. The business has a 50 day simple moving average of $8.74 and a two-hundred day simple moving average of $8.32.

Hagerty (NYSE:HGTY) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $245.04 million during the quarter, compared to the consensus estimate of $245.17 million. Hagerty had a return on equity of 4.53% and a net margin of 1.84%. Research analysts anticipate that Hagerty, Inc. will post 0.19 EPS for the current fiscal year.

Institutional Trading of Hagerty

Several hedge funds have recently modified their holdings of the company. UBS Group AG raised its holdings in shares of Hagerty by 1.0% during the 1st quarter. UBS Group AG now owns 111,501 shares of the company’s stock worth $975,000 after acquiring an additional 1,128 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Hagerty by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 268,463 shares of the company’s stock worth $2,257,000 after acquiring an additional 1,587 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Hagerty by 14.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,944 shares of the company’s stock worth $106,000 after acquiring an additional 1,650 shares in the last quarter. Swiss National Bank raised its holdings in Hagerty by 3.3% during the 3rd quarter. Swiss National Bank now owns 55,700 shares of the company’s stock valued at $455,000 after buying an additional 1,800 shares during the period. Finally, Vident Advisory LLC raised its holdings in Hagerty by 13.2% during the 4th quarter. Vident Advisory LLC now owns 16,496 shares of the company’s stock valued at $129,000 after buying an additional 1,920 shares during the period. 20.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. initiated coverage on Hagerty in a research note on Thursday, January 11th. They set a “neutral” rating and a $9.00 price objective for the company.

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.