Hagerty, Inc. (NYSE:HGTY) Given Consensus Rating of “Moderate Buy” by Brokerages

Hagerty, Inc. (NYSE:HGTY) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $13.7143.

Several equities analysts have recently issued reports on HGTY shares. Wall Street Zen lowered Hagerty from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Wells Fargo & Company decreased their price target on Hagerty from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. Finally, JPMorgan Chase & Co. raised their price objective on Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th.

Insider Buying and Selling at Hagerty

In other news, Director Anthony J. Kuczinski acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average price of $9.50 per share, with a total value of $38,000.00. Following the acquisition, the director directly owned 47,277 shares in the company, valued at $449,131.50. The trade was a 9.24% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Laurie Harris sold 5,531 shares of the firm’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $11.01, for a total value of $60,896.31. Following the sale, the director directly owned 36,689 shares in the company, valued at approximately $403,945.89. This trade represents a 13.10% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 16.70% of the company’s stock.

Institutional Investors Weigh In On Hagerty

Several hedge funds have recently modified their holdings of HGTY. Neuberger Berman Group LLC boosted its holdings in shares of Hagerty by 44.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 8,047,786 shares of the company’s stock valued at $96,895,000 after acquiring an additional 2,490,359 shares in the last quarter. Pembroke Management LTD boosted its holdings in shares of Hagerty by 127.6% during the 3rd quarter. Pembroke Management LTD now owns 2,261,203 shares of the company’s stock valued at $27,225,000 after acquiring an additional 1,267,754 shares in the last quarter. Greenhaven Road Investment Management L.P. boosted its holdings in shares of Hagerty by 47.1% during the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock valued at $32,084,000 after acquiring an additional 853,245 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Hagerty by 32.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company’s stock valued at $41,612,000 after acquiring an additional 843,433 shares in the last quarter. Finally, Polar Capital Holdings Plc boosted its holdings in shares of Hagerty by 9.4% during the 3rd quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company’s stock valued at $70,042,000 after acquiring an additional 498,389 shares in the last quarter. Institutional investors and hedge funds own 20.51% of the company’s stock.

Hagerty Trading Down 2.5%

Shares of HGTY opened at $10.08 on Tuesday. Hagerty has a 52-week low of $8.81 and a 52-week high of $14.00. The business’s fifty day moving average is $10.73 and its 200-day moving average is $11.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 30.56 and a beta of 0.83.

Hagerty (NYSE:HGTY) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.04. Hagerty had a return on equity of 16.24% and a net margin of 5.98%.The company had revenue of $388.10 million for the quarter, compared to analyst estimates of $323.93 million. Equities analysts anticipate that Hagerty will post 0.14 EPS for the current fiscal year.

About Hagerty

Hagerty is a specialized automotive lifestyle and insurance company that caters primarily to collectible car enthusiasts. Its core business centers on offering classic vehicle insurance policies designed to protect antique, vintage and specialty automobiles, motorcycles and boats. These policies typically feature agreed-value coverage, flexible usage options and access to restoration services, aligning with the unique needs of collectors and hobbyists.

Beyond insurance, Hagerty operates a comprehensive suite of community and content services under its automotive lifestyle brand.