Robert I. Kauffman Sells 3,291 Shares of Hagerty, Inc. (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,291 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $9.04, for a total value of $29,750.64. Following the transaction, the director now directly owns 3,415,676 shares of the company’s stock, valued at approximately $30,877,711.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Hagerty Trading Up 0.5 %

Shares of HGTY stock opened at $9.29 on Friday. Hagerty, Inc. has a twelve month low of $7.52 and a twelve month high of $10.01. The stock’s fifty day simple moving average is $8.89 and its 200 day simple moving average is $8.43. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.12 billion, a P/E ratio of 132.71 and a beta of 0.77.

Hagerty (NYSE:HGTY) last released its quarterly earnings data on Tuesday, March 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $245.04 million during the quarter, compared to the consensus estimate of $245.17 million. Hagerty had a return on equity of 4.53% and a net margin of 1.84%. As a group, sell-side analysts predict that Hagerty, Inc. will post 0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. initiated coverage on shares of Hagerty in a research report on Thursday, January 11th. They set a “neutral” rating and a $9.00 price objective for the company.

Hedge Funds Weigh In On Hagerty

Several large investors have recently modified their holdings of HGTY. Meixler Investment Management Ltd. grew 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 worth $223,000 after purchasing an additional 4,250 shares during the last quarter. Confluence Investment Management LLC bought a new stake in shares of Hagerty in the 1st quarter valued at about $3,473,000. GABELLI & Co INVESTMENT ADVISERS INC. grew its position in shares of Hagerty by 34.7% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after buying an additional 26,600 shares during the last quarter. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Hagerty in the fourth quarter valued at about $132,000. Finally, Fenimore Asset Management Inc. raised its position in shares of Hagerty by 0.8% during the fourth quarter. Fenimore Asset Management Inc. now owns 945,286 shares of the company’s stock worth $7,373,000 after acquiring an additional 7,600 shares during the last quarter. Institutional investors 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.