Robert I. Kauffman Sells 5,088 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

by · The Markets Daily

Hagerty, Inc. (NYSE:HGTY – Get Free Report) Director Robert I. Kauffman sold 5,088 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $10.42, for a total value of $53,016.96. Following the completion of the sale, the director now owns 5,048,360 shares in the company, valued at approximately $52,603,911.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hagerty Price Performance

Shares of HGTY traded up $0.17 on Tuesday, hitting $10.61. The company’s stock had a trading volume of 43,582 shares, compared to its average volume of 78,558. The company has a market capitalization of $3.57 billion, a PE ratio of 176.17 and a beta of 0.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. Hagerty, Inc. has a fifty-two week low of $7.60 and a fifty-two week high of $12.35. The company has a 50 day moving average price of $10.98 and a 200 day moving average price of $10.33.

Hagerty (NYSE:HGTY – Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. The business had revenue of $313.23 million for the quarter, compared to the consensus estimate of $312.64 million. Hagerty had a return on equity of 15.68% and a net margin of 5.37%. On average, research analysts anticipate that Hagerty, Inc. will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HGTY. Meixler Investment Management Ltd. lifted its holdings in Hagerty by 21.2% during the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after buying an additional 4,250 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Hagerty by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock worth $18,559,000 after buying an additional 21,331 shares in the last quarter. Blue Trust Inc. acquired a new position in Hagerty during the 2nd quarter worth $39,000. Dimensional Fund Advisors LP acquired a new position in Hagerty during the 2nd quarter worth $139,000. Finally, Algert Global LLC acquired a new position in Hagerty during the 2nd quarter worth $108,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

Analyst Upgrades and Downgrades

HGTY has been the topic of several analyst reports. Truist Financial upped their price objective on Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th.

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About Hagerty

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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.

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