Hagerty, Inc. (NYSE:HGTY) Director Sells $99,404.76 in Stock

by · The Markets Daily

Hagerty, Inc. (NYSE:HGTY – Get Free Report) Director Robert I. Kauffman sold 9,103 shares of Hagerty stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $10.92, for a total value of $99,404.76. Following the completion of the sale, the director now owns 5,024,059 shares in the company, valued at approximately $54,862,724.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hagerty Stock Up 1.4 %

Shares of NYSE HGTY opened at $10.92 on Monday. The stock has a market cap of $3.72 billion, a PE ratio of 91.00 and a beta of 0.78. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. Hagerty, Inc. has a 12-month low of $7.63 and a 12-month high of $12.35. The company has a 50-day moving average of $10.94 and a 200 day moving average of $10.38.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HGTY. Truist Financial raised their target price on Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a report on Thursday, July 11th.

Read Our Latest Analysis on Hagerty

Institutional Investors Weigh In On Hagerty

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. acquired a new position in Hagerty in the 2nd quarter valued at about $39,000. Meixler Investment Management Ltd. raised its position in shares of Hagerty by 21.2% during the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock valued at $223,000 after buying an additional 4,250 shares during the period. 17 Capital Partners LLC lifted its holdings in Hagerty by 10.0% in the third quarter. 17 Capital Partners LLC now owns 55,000 shares of the company’s stock valued at $559,000 after acquiring an additional 5,000 shares during the last quarter. Algert Global LLC purchased a new position in Hagerty in the second quarter worth approximately $108,000. Finally, Dimensional Fund Advisors LP purchased a new position in Hagerty in the second quarter worth approximately $139,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Hagerty Company Profile

(Get Free Report)

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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