Robert I. Kauffman Sells 24,110 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 24,110 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $9.86, for a total transaction of $237,724.60. Following the completion of the transaction, the director now owns 3,947,323 shares of the company’s stock, valued at $38,920,604.78. This trade represents a 0.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hagerty Trading Up 1.1%

Shares of HGTY stock traded up $0.11 on Monday, reaching $9.79. The company had a trading volume of 66,843 shares, compared to its average volume of 86,086. The stock has a market cap of $3.34 billion, a PE ratio of 89.00 and a beta of 0.88. The company has a 50-day moving average of $9.01 and a 200-day moving average of $9.91. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23. Hagerty, Inc. has a 12 month low of $8.03 and a 12 month high of $12.35.

Hagerty (NYSE:HGTY) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. 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 previous year, the company earned $0.04 earnings per share. On average, equities analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Hagerty

Hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its holdings in shares of Hagerty by 24.9% in the first quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company’s stock worth $338,000 after acquiring an additional 7,459 shares in the last quarter. Lincoln Capital LLC increased its stake in Hagerty by 12.3% during the 1st quarter. Lincoln Capital LLC now owns 555,286 shares of the company’s stock worth $4,753,000 after purchasing an additional 60,791 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Hagerty by 15.7% during the first quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company’s stock worth $49,438,000 after acquiring an additional 743,597 shares during the period. Virtu Financial LLC bought a new stake in shares of Hagerty in the first quarter valued at about $108,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Hagerty by 4.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,768 shares of the company’s stock valued at $1,291,000 after acquiring an additional 5,667 shares in the last quarter. Institutional investors and hedge funds own 20.51% of the company’s stock.

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.