Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 7,000 Shares

Hagerty, Inc. (NYSE:HGTY – Get Your Free Report ) Director Robert I. Kauffman sold 7,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $11.28, for a total transaction of $78,960.00. Following the transaction, the director now owns 5,281,195 shares in the company, valued at approximately $59,571,879.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hagerty stocks up 2.7%

Shares of Hagerty stock opened at $11.99 on Tuesday. Hagerty, Inc. it has a fifty-two week low of $7.52 and a fifty-two week high of $12.04. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.47, and a current ratio of 1.47. The company’s 50-day simple moving average is $10.88 and its 200-day simple moving average is $9.64. The stock has a market cap of $4.04 billion, a PE ratio of 199.83 and a beta of 0.80.

Hagerty (NYSE:HGTY – Get Your Free Report ) last announced its earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $313.23 million for the quarter, compared to the consensus estimate of $312.64 million. Hagerty had a return on equity of 6.35% and a net margin of 1.82%. Research analysts predict that Hagerty, Inc. will post 0.23 EPS for the current fiscal year.

Institutional inputs and outputs

Several hedge funds and other institutional investors have recently bought and sold shares of HGTY. Confluence Investment Management LLC bought a new stake in shares of Hagerty in the first quarter worth $3,473,000. GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in Hagerty by 34.7% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock worth $806,000 after buying an additional 26,600 shares in the last quarter. Vanguard Group Inc. increased its position in Hagerty by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock worth $18,559,000 after acquiring an additional 21,331 shares during the period. MeadowBrook Investment Advisors LLC purchased a new position in Hagerty in the fourth quarter valued at approximately $132,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Hagerty in the second quarter valued at about $139,000. Hedge funds and other institutional investors own 20.51% of the company’s shares.

Analysts set new price targets

HGTY has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Truist Financial upped their target price on Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Thursday, August 8th.

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Hagerty Company Profile

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Hagerty, Inc provides insurance agency services worldwide. Offers auto and boat insurance products; and reinsurance products. The company provides Hagerty Media, which publishes content through Hagerty Drivers Club Magazine (HDC), video content and social media channels; HDC offering subscription-based products and services, including HDC Magazine, auto enthusiast events, owner vehicle evaluation tools, roadside assistance and special vehicle discounts.

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