Hagerty (NYSE:HGTY) Stock Price Up 3.8%

Hagerty, Inc. (NYSE:HGTY) shares rose 3.8% on Monday . The company traded as high as $8.93 and last traded at $8.76. Approximately 68,217 shares changed hands during trading, an increase of 24% from the average daily 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 Hagerty in a report on Thursday, January 11th. They set a “neutral” rating and a $9.00 target price on the stock.

Hagerty Stock Performance

The stock has a market cap of $2.99 billion, a P/E ratio of 127.14 and a beta of 0.77. The company has a fifty day moving average of $8.72 and a 200 day moving average of $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 announced its earnings results on Tuesday, March 12th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). Hagerty had a return on equity of 4.53% and a net margin of 1.84%. The firm had revenue of $245.04 million for the quarter, compared to analysts’ expectations of $245.17 million. On average, equities analysts predict that Hagerty, Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Hagerty

In other Hagerty news, Director Robert I. Kauffman sold 2,998 shares of the company’s stock in a transaction on Monday, April 8th. The stock was 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 of the company’s stock, valued at $31,001,161.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Hagerty news, Director Robert I. Kauffman sold 2,848 shares of Hagerty stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $9.08, for a total transaction of $25,859.84. Following the transaction, the director now directly owns 3,447,059 shares in the company, valued at approximately $31,299,295.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert I. Kauffman sold 2,998 shares of Hagerty stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $9.04, for a total transaction of $27,101.92. Following the transaction, the director now owns 3,429,332 shares in the company, valued at $31,001,161.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,982 shares of company stock valued at $99,190. Corporate insiders own 17.90% of the company’s stock.

Hedge Funds Weigh In On Hagerty

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG purchased a new position in Hagerty during the 1st quarter worth approximately $29,000. Tower Research Capital LLC TRC purchased a new position in shares of Hagerty during the 3rd quarter valued at $41,000. Wells Fargo & Company MN grew its holdings in shares of Hagerty by 115.9% during the 2nd quarter. Wells Fargo & Company MN now owns 4,466 shares of the company’s stock valued at $42,000 after acquiring an additional 2,397 shares in the last quarter. Blue Trust Inc. purchased a new position in shares of Hagerty during the 4th quarter valued at $57,000. Finally, Barclays PLC grew its holdings in shares of Hagerty by 227.0% during the 2nd quarter. Barclays PLC now owns 6,474 shares of the company’s stock valued at $61,000 after acquiring an additional 4,494 shares in the last quarter. 20.51% of the stock is currently 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.