Robert I. Kauffman Sells 5,010 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 5,010 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $10.73, for a total transaction of $53,757.30. Following the sale, the director now owns 5,037,217 shares in the company, valued at $54,049,338.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hagerty Price Performance

NYSE:HGTY traded up $0.15 on Friday, hitting $10.92. The company had a trading volume of 99,031 shares, compared to its average volume of 78,346. Hagerty, Inc. has a 52 week low of $7.63 and a 52 week high of $12.35. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 91.00 and a beta of 0.79. The firm has a 50 day moving average of $10.94 and a two-hundred day moving average of $10.37.

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

Institutional Trading of Hagerty

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Hagerty by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company's stock valued at $18,559,000 after purchasing an additional 21,331 shares during the period. 17 Capital Partners LLC grew its position in shares of Hagerty by 10.0% in the 3rd quarter. 17 Capital Partners LLC now owns 55,000 shares of the company's stock valued at $559,000 after buying an additional 5,000 shares during the last quarter. Meixler Investment Management Ltd. increased its stake in shares of Hagerty by 21.2% in the first 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. Goldstone Financial Group LLC bought a new position in shares of Hagerty during the third quarter worth about $236,000. Finally, Lakewood Asset Management LLC acquired a new position in shares of Hagerty in the third quarter worth approximately $186,000. 20.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HGTY has been the topic of a number of research analyst reports. Truist Financial raised their target price on Hagerty from $10.00 to $11.00 and gave the company a "hold" rating in a 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 research note on Thursday, July 11th.

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.