Hagerty (NYSE:HGTY) Director Robert Kauffman Sells 55,524 Shares of Stock

by · The Markets Daily

Hagerty, Inc. (NYSE:HGTY – Get Free Report) Director Robert Kauffman sold 55,524 shares of the stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $12.16, for a total value of $675,171.84. Following the sale, the director directly owned 1,023,525 shares in the company, valued at $12,446,064. This trade represents a 5.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Hagerty Stock Performance

Shares of HGTY opened at $11.41 on Friday. The stock’s 50-day simple moving average is $11.75 and its 200 day simple moving average is $10.32. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 57.05 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.06 and a current ratio of 1.06. Hagerty, Inc. has a 52-week low of $8.03 and a 52-week high of $13.32.

Hagerty (NYSE:HGTY – Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $368.70 million for the quarter, compared to analysts’ expectations of $347.15 million. Hagerty had a return on equity of 13.76% and a net margin of 4.88%. Hagerty has set its FY 2025 guidance at EPS. Research analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Evercore ISI assumed coverage on Hagerty in a report on Wednesday, August 27th. They set an “outperform” rating and a $14.00 price objective on the stock. Keefe, Bruyette & Woods began coverage on Hagerty in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $14.00 target price on the stock. Oppenheimer began coverage on Hagerty in a research note on Wednesday, September 17th. They issued an “outperform” rating and a $15.00 target price on the stock. BMO Capital Markets began coverage on Hagerty in a research note on Monday, September 22nd. They issued a “market perform” rating and a $13.00 target price on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Hagerty in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.88.

Check Out Our Latest Stock Report on HGTY

Hedge Funds Weigh In On Hagerty

Institutional investors have recently modified their holdings of the company. Neuberger Berman Group LLC increased its position in shares of Hagerty by 15.7% during the 1st quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company’s stock valued at $49,438,000 after purchasing an additional 743,597 shares during the last quarter. Lincoln Capital LLC increased its position in shares of Hagerty by 9.4% during the 2nd quarter. Lincoln Capital LLC now owns 607,309 shares of the company’s stock valued at $6,140,000 after purchasing an additional 52,023 shares during the last quarter. Greenhaven Road Investment Management L.P. increased its position in shares of Hagerty by 10.1% during the 1st quarter. Greenhaven Road Investment Management L.P. now owns 1,360,506 shares of the company’s stock valued at $12,299,000 after purchasing an additional 124,336 shares during the last quarter. Swiss National Bank increased its position in shares of Hagerty by 15.3% during the 1st quarter. Swiss National Bank now owns 61,100 shares of the company’s stock valued at $552,000 after purchasing an additional 8,100 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Hagerty during the 1st quarter valued at about $93,000. 20.51% of the stock is currently owned by institutional investors.

About Hagerty

(Get Free Report)

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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