Robert I. Kauffman Sells 4,915 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Robert I. Kauffman sold 4,915 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $9.97, for a total transaction of $49,002.55. Following the completion of the sale, the director now directly owns 4,320,314 shares of the company's stock, valued at $43,073,530.58. The trade was a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Hagerty Trading Up 1.6 %

HGTY traded up $0.16 during midday trading on Wednesday, hitting $10.02. The company's stock had a trading volume of 49,759 shares, compared to its average volume of 52,237. Hagerty, Inc. has a 52-week low of $8.01 and a 52-week high of $12.35. The firm has a 50-day moving average price of $10.26 and a two-hundred day moving average price of $10.75. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.23. The firm has a market cap of $3.42 billion, a P/E ratio of 91.05 and a beta of 0.85.

Hagerty (NYSE:HGTY - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share 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 previous year, the business posted $0.05 EPS. On average, research analysts anticipate that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Hagerty

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its position in Hagerty by 376.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,143 shares of the company's stock valued at $988,000 after buying an additional 76,740 shares during the last quarter. Barclays PLC grew its stake in Hagerty by 23.0% during the 3rd quarter. Barclays PLC now owns 31,675 shares of the company's stock valued at $321,000 after purchasing an additional 5,932 shares in the last quarter. Lincoln Capital LLC increased its holdings in 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 purchasing an additional 31,068 shares during the last quarter. FMR LLC raised its position in shares of Hagerty by 25,769.2% in the 3rd quarter. FMR LLC now owns 6,726 shares of the company's stock valued at $68,000 after purchasing an additional 6,700 shares in the last quarter. Finally, Algert Global LLC purchased a new position in shares of Hagerty during the 2nd quarter valued at approximately $108,000. 20.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.

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