Hagerty (NYSE:HGTY) Stock Price Up 3.8%

Hagerty, Inc. (NYSE:HGTY) shot up 3.8% on Monday . The company traded as high as $8.93 and last traded at $8.76. 68,217 shares were traded during trading, an increase of 24% from the average session volume of 54,851 shares. The stock had previously closed at $8.44.

Analysts Set New Price Targets

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

Hagerty Trading Down 0.3 %

The company has a market capitalization of $2.99 billion, a P/E ratio of 127.14 and a beta of 0.77. The business’s 50-day moving average price is $8.72 and its two-hundred day moving average price is $8.32. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.48 and a quick ratio of 1.48.

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

Insider Transactions at Hagerty

In related news, Director Robert I. Kauffman sold 2,998 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $9.04, for a total value of $27,101.92. Following the transaction, the director now owns 3,429,332 shares in the company, valued at approximately $31,001,161.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Robert I. Kauffman sold 2,848 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $9.08, for a total value of $25,859.84. Following the transaction, the director now owns 3,447,059 shares in the company, valued at approximately $31,299,295.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert I. Kauffman sold 2,998 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $9.04, for a total transaction of $27,101.92. Following the completion of the transaction, the director now owns 3,429,332 shares in the company, valued at approximately $31,001,161.28. The disclosure for this sale can be found here. Insiders have sold 10,982 shares of company stock worth $99,190 in the last ninety days. Insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors Inc. boosted its holdings in Hagerty by 3.3% in the 1st quarter. Wasatch Advisors Inc. now owns 7,025,761 shares of the company’s stock valued at $75,808,000 after purchasing an additional 224,842 shares during the period. Vanguard Group Inc. boosted its holdings in Hagerty by 46.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,987,616 shares of the company’s stock valued at $17,869,000 after purchasing an additional 628,530 shares during the period. Fenimore Asset Management Inc. boosted its holdings in Hagerty by 0.8% in the 4th quarter. Fenimore Asset Management Inc. now owns 945,286 shares of the company’s stock valued at $7,373,000 after purchasing an additional 7,600 shares during the period. BlackRock Inc. boosted its holdings in Hagerty by 21.5% in the 2nd quarter. BlackRock Inc. now owns 601,114 shares of the company’s stock valued at $5,626,000 after purchasing an additional 106,478 shares during the period. Finally, Confluence Investment Management LLC bought a new stake in Hagerty in the 1st quarter valued at about $3,473,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

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.