Insider Buying: Hagerty (NYSE:HGTY) Director Purchases 1,000 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Anthony Kuczinski purchased 1,000 shares of the business’s stock in a transaction on Friday, September 5th. The shares were bought at an average cost of $11.62 per share, for a total transaction of $11,620.00. Following the purchase, the director owned 28,277 shares of the company’s stock, valued at $328,578.74. This trade represents a 3.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Hagerty Stock Performance

NYSE:HGTY opened at $12.18 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.27. The company has a market cap of $4.17 billion, a P/E ratio of 60.90 and a beta of 0.91. Hagerty, Inc. has a fifty-two week low of $8.03 and a fifty-two week high of $12.26. The firm’s 50 day moving average is $10.69 and its two-hundred day moving average is $9.82.

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

Hedge Funds Weigh In On Hagerty

Hedge funds have recently made changes to their positions in the business. Neuberger Berman Group LLC raised its stake in shares of Hagerty by 15.7% in the 1st quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company’s stock valued at $49,438,000 after acquiring an additional 743,597 shares during the period. Jane Street Group LLC purchased a new stake in Hagerty during the 4th quarter worth $230,000. Voya Investment Management LLC purchased a new stake in Hagerty during the 4th quarter worth $104,000. Dimensional Fund Advisors LP increased its stake in Hagerty by 225.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 62,034 shares of the company’s stock worth $599,000 after buying an additional 42,967 shares during the period. Finally, Greenhaven Road Investment Management L.P. increased its stake in 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 worth $12,299,000 after buying an additional 124,336 shares during the period. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HGTY shares. Keefe, Bruyette & Woods started coverage on shares of Hagerty in a research note on Wednesday, August 27th. They set an “outperform” rating and a $14.00 price target on the stock. Evercore ISI began coverage on shares of Hagerty in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $14.00 target price on the stock. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.67.

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.