Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 3,036 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,036 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $9.07, for a total value of $27,536.52. Following the transaction, the director now owns 3,421,036 shares of the company’s stock, valued at $31,028,796.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Hagerty Stock Down 1.2 %

HGTY stock opened at $8.81 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. The business has a 50 day moving average price of $8.79 and a two-hundred day moving average price of $8.36. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 125.86 and a beta of 0.77. Hagerty, Inc. has a twelve month low of $7.52 and a twelve month high of $10.36.

Hagerty (NYSE:HGTY) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm 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%. Analysts anticipate that Hagerty, Inc. will post 0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC acquired a new stake in shares of Hagerty in the third quarter valued at approximately $206,000. Barclays PLC lifted its position 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 buying an additional 20,341 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Hagerty in the third quarter valued at approximately $147,000. Blue Trust Inc. acquired a new stake in shares of Hagerty in the fourth quarter valued at approximately $57,000. Finally, Fenimore Asset Management Inc. lifted its position in shares of Hagerty by 0.8% in the fourth quarter. Fenimore Asset Management Inc. now owns 945,286 shares of the company’s stock valued at $7,373,000 after buying an additional 7,600 shares during the last quarter. 20.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. initiated coverage on Hagerty in a report 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.