Insider Selling: Hagerty (NYSE:HGTY) CAO Sells $114,224.00 in Stock

Hagerty, Inc. (NYSE:HGTY) CAO Kevin Delaney sold 9,440 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $12.10, for a total transaction of $114,224.00. Following the completion of the transaction, the chief accounting officer directly owned 89,610 shares of the company’s stock, valued at approximately $1,084,281. The trade was a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hagerty Stock Up 2.3%

HGTY traded up $0.28 on Thursday, hitting $12.34. The company had a trading volume of 130,491 shares, compared to its average volume of 157,362. The stock has a fifty day simple moving average of $10.67 and a 200-day simple moving average of $11.43. 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 capitalization of $4.24 billion, a P/E ratio of 61.68 and a beta of 0.79. Hagerty, Inc. has a 52-week low of $8.81 and a 52-week high of $14.00.

Hagerty (NYSE:HGTY) last posted its earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $284.88 million. As a group, equities analysts expect that Hagerty, Inc. will post -0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Hagerty

Several large investors have recently bought and sold shares of HGTY. Neuberger Berman Group LLC lifted its stake in 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 during the period. Greenhaven Road Investment Management L.P. grew its stake in shares of Hagerty by 47.1% in the third quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock worth $32,084,000 after acquiring an additional 853,245 shares during the period. Vanguard Group Inc. raised its holdings in shares of Hagerty by 32.3% during the third quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company’s stock valued at $41,612,000 after purchasing an additional 843,433 shares during the last quarter. Polar Capital Holdings Plc lifted its position in Hagerty by 9.4% during the third 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 bought a new position in Hagerty during the third quarter valued at approximately $3,339,000. 20.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HGTY has been the topic of a number of analyst reports. Wall Street Zen cut Hagerty from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings raised Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Hagerty in a report on Wednesday, June 10th. Wells Fargo & Company lowered their price target on Hagerty from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Finally, Truist Financial dropped their price target on shares of Hagerty from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company 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.