Hagerty, Inc. (NYSE:HGTY) Director Sells $416,513.90 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 41,239 shares of the company’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $10.10, for a total transaction of $416,513.90. Following the transaction, the director directly owned 3,509,251 shares of the company’s stock, valued at $35,443,435.10. This represents a 1.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Hagerty Stock Down 0.5%

Shares of HGTY opened at $9.99 on Monday. The company has a 50-day simple moving average of $9.75 and a 200-day simple moving average of $9.53. The firm has a market capitalization of $3.42 billion, a P/E ratio of 49.97 and a beta of 0.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.01. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $12.35.

Hagerty (NYSE:HGTY) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. The business had revenue of $319.59 million during the quarter, compared to analyst estimates of $299.92 million. Hagerty had a net margin of 4.73% and a return on equity of 13.55%. During the same quarter in the prior year, the business earned $0.04 earnings per share. On average, equities research analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. cut their price objective on shares of Hagerty from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in shares of Hagerty during the fourth quarter worth approximately $879,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Hagerty by 35.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,325 shares of the company’s stock worth $100,000 after buying an additional 2,726 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Hagerty by 48.6% during the fourth quarter. Legal & General Group Plc now owns 25,148 shares of the company’s stock worth $243,000 after buying an additional 8,226 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Hagerty during the fourth quarter worth approximately $230,000. Finally, XTX Topco Ltd acquired a new stake in shares of Hagerty during the fourth quarter worth approximately $119,000. Institutional investors and hedge funds 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.