Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 36,174 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 36,174 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $10.12, for a total value of $366,080.88. Following the completion of the transaction, the director directly owned 3,405,149 shares in the company, valued at $34,460,107.88. This trade represents a 1.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Hagerty Stock Up 0.0%

Shares of NYSE HGTY opened at $10.12 on Tuesday. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year high of $12.35. The firm’s 50 day moving average price is $9.81 and its 200 day moving average price is $9.55. The firm has a market cap of $3.46 billion, a P/E ratio of 50.58 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 (NYSE:HGTY) last posted its earnings results on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.02 by $0.06. Hagerty had a net margin of 4.73% and a return on equity of 13.55%. The firm had revenue of $319.59 million during the quarter, compared to analysts’ expectations of $299.92 million. During the same quarter in the prior year, the firm earned $0.04 EPS. As a group, sell-side analysts anticipate that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Trading of Hagerty

Several institutional investors have recently made changes to their positions in the business. KLP Kapitalforvaltning AS acquired a new position in Hagerty during the fourth quarter valued at approximately $31,000. Ancora Advisors LLC acquired a new stake in Hagerty in the fourth quarter valued at $46,000. BNP Paribas Financial Markets bought a new position in shares of Hagerty in the fourth quarter valued at about $84,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Hagerty during the first quarter worth about $93,000. Finally, Voya Investment Management LLC acquired a new stake in Hagerty during the fourth quarter worth about $104,000. 20.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.