Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 3,301 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,301 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $9.62, for a total transaction of $31,755.62. Following the completion of the transaction, the director now owns 4,372,659 shares of the company’s stock, valued at $42,064,979.58. This trade represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hagerty Price Performance

Shares of Hagerty stock opened at $9.70 on Friday. Hagerty, Inc. has a 52 week low of $7.82 and a 52 week high of $12.35. 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 stock has a market cap of $3.31 billion, a PE ratio of 88.14 and a beta of 0.86. The company’s 50-day moving average price is $10.51 and its two-hundred day moving average price is $10.83.

Hagerty (NYSE:HGTY) last released its 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 business had revenue of $323.37 million during the quarter, compared to the consensus estimate of $318.07 million. Hagerty had a return on equity of 12.06% and a net margin of 5.27%. During the same quarter in the previous year, the firm earned $0.05 earnings per share. As a group, sell-side analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Hagerty

Institutional investors and hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Hagerty by 376.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,143 shares of the company’s stock worth $988,000 after acquiring an additional 76,740 shares during the last quarter. Lincoln Capital LLC boosted its position in shares of Hagerty by 6.7% in the 4th quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock valued at $4,772,000 after purchasing an additional 31,068 shares during the period. Goldstone Financial Group LLC purchased a new position in Hagerty in the 3rd quarter worth about $236,000. Blue Trust Inc. raised its holdings in 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 period. Finally, Lakewood Asset Management LLC purchased a new stake in Hagerty during the third quarter valued at about $186,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Raymond James downgraded Hagerty from a “market perform” rating to an “underperform” rating in a research 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.