Hagerty (NYSE:HGTY) CAO Kevin Delaney Sells 905 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) CAO Kevin Delaney sold 905 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $12.01, for a total transaction of $10,869.05. Following the sale, the chief accounting officer directly owned 99,050 shares in the company, valued at $1,189,590.50. This represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hagerty Stock Performance

NYSE:HGTY opened at $12.34 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.65 and a quick ratio of 1.65. The firm has a market cap of $4.24 billion, a PE ratio of 61.68 and a beta of 0.79. The firm has a 50 day simple moving average of $10.71 and a 200-day simple moving average of $11.43. Hagerty, Inc. has a 1-year low of $8.81 and a 1-year high of $14.00.

Hagerty (NYSE:HGTY) last released its earnings results on Wednesday, May 6th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.05). Hagerty had a return on equity of 11.94% and a net margin of 5.11%.The firm had revenue of $311.83 million during the quarter, compared to analysts’ expectations of $284.88 million. On average, equities analysts expect that Hagerty, Inc. will post -0.1 EPS for the current year.

Institutional Trading of Hagerty

Hedge funds have recently made changes to their positions in the stock. Neuberger Berman Group LLC lifted its holdings in Hagerty by 44.8% in the third quarter. Neuberger Berman Group LLC now owns 8,047,786 shares of the company’s stock worth $96,895,000 after acquiring an additional 2,490,359 shares during the last quarter. Greenhaven Road Investment Management L.P. raised its holdings in 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 worth $32,084,000 after buying an additional 853,245 shares during the period. Vanguard Group Inc. lifted its position in shares of Hagerty by 32.3% in 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. Polar Capital Holdings Plc raised its stake in 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 purchasing an additional 498,389 shares during the period. Finally, Woodline Partners LP purchased a new stake in Hagerty in the 3rd quarter worth about $3,339,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Truist Financial reduced their target price on Hagerty from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, May 11th. UBS Group set a $14.00 price target on Hagerty in a research report on Wednesday, June 10th. Weiss Ratings upgraded shares of Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, June 17th. Wall Street Zen downgraded shares of Hagerty from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Hagerty in a research note on Wednesday, June 10th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Hagerty presently has an average rating of “Hold” and a consensus price target of $13.44.

Hagerty Company Profile

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.