Hagerty, Inc. (NYSE:HGTY) Director Sells $27,536.52 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,036 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $9.07, for a total value of $27,536.52. Following the sale, the director now owns 3,421,036 shares of the company’s stock, valued at approximately $31,028,796.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hagerty Price Performance

HGTY stock opened at $8.76 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.32. Hagerty, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $10.36. The business has a 50 day moving average price of $8.80 and a 200 day moving average price of $8.37. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 125.14 and a beta of 0.77.

Hagerty (NYSE:HGTY) last issued its quarterly earnings data on Tuesday, March 12th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). Hagerty had a return on equity of 4.53% and a net margin of 1.84%. The company had revenue of $245.04 million during the quarter, compared to analysts’ expectations of $245.17 million. Equities research analysts anticipate that Hagerty, Inc. will post 0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Hagerty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HGTY. Confluence Investment Management LLC purchased a new stake in Hagerty in the first quarter valued at approximately $3,473,000. Lincoln Capital LLC lifted its stake in Hagerty by 18.0% in the fourth quarter. Lincoln Capital LLC now owns 328,763 shares of the company’s stock valued at $2,593,000 after buying an additional 50,140 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in Hagerty by 34.7% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after buying an additional 26,600 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Hagerty in the third quarter valued at approximately $206,000. Finally, Barclays PLC increased its holdings in shares of Hagerty by 314.2% in the third quarter. Barclays PLC now owns 26,815 shares of the company’s stock valued at $219,000 after purchasing an additional 20,341 shares during the period. Hedge funds and other institutional investors own 20.51% of the company’s stock.

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.