Fannie Mae, Freddie Mac shares tumble after conservatorship comments
Robert Kauffman, a director at Hagerty , Inc. (NYSE:HGTY), has recently sold shares in the company, according to a filing with the Securities and Exchange Commission. Over a series of transactions from March 25 to March 27, Kauffman sold a total of 26,491 shares of Class A Common Stock. The transactions were executed at prices ranging from $9.18 to $9.37 per share, amounting to a total sale value of approximately $245,290. The $3.13 billion market cap company has shown strong performance with revenue growth of approximately 20% over the last twelve months. Following these transactions, Kauffman retains ownership of 4,121,185 shares, held indirectly through Aldel LLC. The sales were conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell shares, helping to avoid concerns about insider trading. According to InvestingPro analysis, Hagerty shows promising fundamentals with a strong Piotroski Score of 8 and expected net income growth, though it currently trades at premium multiples. For deeper insights into insider trading patterns and comprehensive financial analysis, discover more exclusive metrics on InvestingPro.
In other recent news, Hagerty Inc. reported its financial results for the fourth quarter of 2024, surpassing earnings expectations with an earnings per share (EPS) of $0.02, double the forecast of $0.01. The company’s revenue also exceeded projections, reaching $292 million compared to the anticipated $279.53 million, marking a robust 19% year-over-year growth. Additionally, Hagerty’s operating income saw a significant increase, rising six-fold to $66 million, while net income surged by 178% to $78 million. Despite these positive financial results, Hagerty’s stock experienced a decline in pre-market trading. The company also shared its outlook for 2025, projecting a growth in written premiums of 13-14% and total revenue growth of 12-13%. Analyst firms have not recently upgraded or downgraded Hagerty’s stock, but the company’s strategic initiatives, including significant investments in technology and market expansion, were highlighted. Hagerty’s management emphasized their growth strategy, including plans to expand specialty insurance offerings and improve technology platforms.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.