Hagerty (NYSE:HGTY) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Hagerty (NYSE:HGTY) from a hold rating to a buy rating in a research note released on Sunday.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Hagerty from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Citizens Jmp started coverage on Hagerty in a report on Wednesday, October 1st. They issued a “mkt outperform” rating and a $15.00 price target for the company. Evercore ISI began coverage on Hagerty in a research note on Wednesday, August 27th. They set an “outperform” rating and a $14.00 price objective on the stock. JMP Securities began coverage on Hagerty in a report on Wednesday, October 1st. They set a “market outperform” rating and a $15.00 price objective on the stock. Finally, Citigroup started coverage on Hagerty in a research note on Wednesday, October 1st. They issued an “outperform” rating for the company. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $14.00.

Hagerty Trading Down 0.4%

Shares of Hagerty stock opened at $13.36 on Friday. The stock has a market capitalization of $4.57 billion, a P/E ratio of 47.71 and a beta of 0.89. Hagerty has a 52-week low of $8.03 and a 52-week high of $13.86. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50-day simple moving average is $12.18 and its 200 day simple moving average is $11.10.

Hagerty (NYSE:HGTY) last issued its earnings results on Tuesday, November 4th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. Hagerty had a net margin of 5.85% and a return on equity of 16.85%. The firm had revenue of $359.01 million during the quarter, compared to analyst estimates of $354.36 million. Hagerty has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Hagerty will post 0.22 EPS for the current year.

Insider Activity

In related news, Director Robert I. Kauffman sold 15,270 shares of Hagerty stock in a transaction on Monday, October 27th. The stock was sold at an average price of $11.12, for a total transaction of $169,802.40. Following the completion of the sale, the director owned 898,097 shares of the company’s stock, valued at approximately $9,986,838.64. This trade represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 390,432 shares of company stock valued at $4,642,401 in the last quarter. Company insiders own 16.70% of the company’s stock.

Institutional Trading of Hagerty

Institutional investors and hedge funds have recently modified their holdings of the business. Corton Capital Inc. purchased a new stake in shares of Hagerty during the 2nd quarter valued at $273,000. Neuberger Berman Group LLC grew its position in Hagerty by 15.7% in the first quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company’s stock worth $49,438,000 after acquiring an additional 743,597 shares in the last quarter. IFP Advisors Inc purchased a new stake in Hagerty during the second quarter valued at about $30,000. Lincoln Capital LLC raised its position in Hagerty by 9.4% during the second quarter. Lincoln Capital LLC now owns 607,309 shares of the company’s stock valued at $6,140,000 after purchasing an additional 52,023 shares in the last quarter. Finally, Swiss National Bank lifted its stake in Hagerty by 15.3% during the first quarter. Swiss National Bank now owns 61,100 shares of the company’s stock worth $552,000 after purchasing an additional 8,100 shares during the last quarter. Hedge funds and other institutional investors own 20.51% of the company’s stock.

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.