Hagerty (NYSE:HGTY) Director Sells $164,397.96 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Robert Kauffman sold 14,731 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $11.16, for a total transaction of $164,397.96. Following the sale, the director directly owned 913,367 shares of the company’s stock, valued at $10,193,175.72. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Hagerty Stock Down 0.7%

Shares of HGTY opened at $11.10 on Monday. The firm has a market capitalization of $3.80 billion, a P/E ratio of 55.49 and a beta of 0.92. Hagerty, Inc. has a 12-month low of $8.03 and a 12-month high of $13.32. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average price of $11.78 and a 200-day moving average price of $10.45.

Hagerty (NYSE:HGTY) last issued its earnings results on Monday, August 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $368.70 million during the quarter, compared to analyst estimates 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. Equities research analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Hagerty

A number of large investors have recently modified their holdings of the business. Neuberger Berman Group LLC grew its stake in shares of Hagerty by 1.6% during the second quarter. Neuberger Berman Group LLC now owns 5,557,427 shares of the company’s stock worth $56,186,000 after acquiring an additional 88,634 shares during the last quarter. Greenhaven Road Investment Management L.P. grew its stake in shares of Hagerty by 33.2% during the second quarter. Greenhaven Road Investment Management L.P. now owns 1,811,539 shares of the company’s stock worth $18,315,000 after acquiring an additional 451,033 shares during the last quarter. Pembroke Management LTD grew its stake in shares of Hagerty by 5.9% during the second quarter. Pembroke Management LTD now owns 993,449 shares of the company’s stock worth $10,044,000 after acquiring an additional 55,749 shares during the last quarter. Lincoln Capital LLC grew its stake in shares of Hagerty by 9.4% during the second quarter. Lincoln Capital LLC now owns 607,309 shares of the company’s stock worth $6,140,000 after acquiring an additional 52,023 shares during the last quarter. Finally, Garner Asset Management Corp purchased a new stake in shares of Hagerty during the first quarter worth about $2,909,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Analyst Ratings Changes

HGTY has been the subject of several recent research reports. Wall Street Zen downgraded Hagerty from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Citizens Jmp initiated coverage on Hagerty in a report on Wednesday, October 1st. They issued a “mkt outperform” rating and a $15.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Hagerty from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. BMO Capital Markets started coverage on Hagerty in a report on Monday, September 22nd. They issued a “market perform” rating and a $13.00 price objective for the company. Finally, JMP Securities started coverage on shares of Hagerty in a report on Wednesday, October 1st. They issued a “market outperform” rating and a $15.00 target price for the company. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.88.

Hagerty Company Profile

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.