Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 3,713 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 3,713 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $9.57, for a total transaction of $35,533.41. Following the completion of the transaction, the director now directly owns 4,331,394 shares in the company, valued at approximately $41,451,440.58. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Hagerty Stock Performance

Shares of HGTY opened at $10.19 on Friday. The business has a 50-day simple moving average of $10.20 and a two-hundred day simple moving average of $10.74. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.23. Hagerty, Inc. has a 52 week low of $8.05 and a 52 week high of $12.35. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 92.66 and a beta of 0.85.

Hagerty (NYSE:HGTY) last released its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). Hagerty had a return on equity of 12.06% and a net margin of 5.27%. The firm had revenue of $323.37 million during the quarter, compared to analysts’ expectations of $318.07 million. During the same period in the prior year, the company posted $0.05 earnings per share. On average, analysts expect that Hagerty, Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Raymond James downgraded shares of Hagerty from a “market perform” rating to an “underperform” rating in a research report on Thursday, December 26th.

Institutional Trading of Hagerty

Hedge funds and other institutional investors have recently modified their holdings of the company. Pembroke Management LTD purchased a new position in shares of Hagerty during the 4th quarter valued at $9,201,000. Lincoln Capital LLC raised its holdings in Hagerty by 6.7% during the fourth quarter. Lincoln Capital LLC now owns 494,495 shares of the company’s stock valued at $4,772,000 after acquiring an additional 31,068 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Hagerty by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 140,037 shares of the company’s stock valued at $1,351,000 after acquiring an additional 8,258 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Hagerty by 376.1% in the third 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 period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Hagerty during the fourth quarter worth about $879,000. 20.51% of the stock is owned by hedge funds and other institutional investors.

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.