Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 5,044 Shares

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 5,044 shares of the firm's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $9.70, for a total transaction of $48,926.80. Following the completion of the transaction, the director now directly owns 4,361,998 shares of the company's stock, valued at approximately $42,311,380.60. This trade represents a 0.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hagerty Stock Performance

HGTY stock traded down $0.03 during trading hours on Thursday, reaching $9.70. The stock had a trading volume of 50,668 shares, compared to its average volume of 55,633. The stock has a market capitalization of $3.31 billion, a PE ratio of 88.14 and a beta of 0.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a 50-day simple moving average of $10.54 and a 200 day simple moving average of $10.83. Hagerty, Inc. has a fifty-two week low of $7.82 and a fifty-two week high of $12.35.

Hagerty (NYSE:HGTY - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.03). The firm had revenue of $323.37 million during the quarter, compared to analyst estimates of $318.07 million. Hagerty had a net margin of 5.27% and a return on equity of 12.06%. During the same quarter in the prior year, the business earned $0.05 EPS. Analysts predict that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Raymond James downgraded shares of Hagerty from a "market perform" rating to an "underperform" rating in a research report on Thursday, December 26th.

Institutional Trading of Hagerty

A number of hedge funds have recently modified their holdings of the stock. R Squared Ltd acquired a new stake in shares of Hagerty during the 4th quarter worth about $51,000. Blue Trust Inc. lifted its stake in shares of Hagerty by 188.6% during the 4th quarter. Blue Trust Inc. now owns 30,423 shares of the company's stock worth $309,000 after buying an additional 19,881 shares during the last quarter. Lincoln Capital LLC lifted its stake in shares of Hagerty by 6.7% during the 4th quarter. Lincoln Capital LLC now owns 494,495 shares of the company's stock worth $4,772,000 after buying an additional 31,068 shares during the last quarter. Barclays PLC lifted its stake in shares of Hagerty by 23.0% during the 3rd quarter. Barclays PLC now owns 31,675 shares of the company's stock worth $321,000 after buying an additional 5,932 shares during the last quarter. Finally, PDT Partners LLC acquired a new stake in shares of Hagerty during the 3rd quarter worth about $185,000. Institutional investors and hedge funds own 20.51% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.