Hagerty (NYSE:HGTY) Insider Kenneth Ahn Sells 50,000 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) insider Kenneth Ahn sold 50,000 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $12.55, for a total value of $627,500.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Kenneth Ahn also recently made the following trade(s):

• On Monday, January 12th, Kenneth Ahn sold 50,000 shares of Hagerty stock. The stock was sold at an average price of $12.86, for a total value of $643,000.00.
• On Friday, January 9th, Kenneth Ahn sold 1,350 shares of Hagerty stock. The shares were sold at an average price of $13.25, for a total value of $17,887.50.
• On Monday, January 5th, Kenneth Ahn sold 164,870 shares of Hagerty stock. The shares were sold at an average price of $12.79, for a total value of $2,108,687.30.
• On Wednesday, January 7th, Kenneth Ahn sold 24,247 shares of Hagerty stock. The stock was sold at an average price of $13.08, for a total value of $317,150.76.
• On Tuesday, January 6th, Kenneth Ahn sold 10,883 shares of Hagerty stock. The shares were sold at an average price of $12.85, for a total transaction of $139,846.55.

Hagerty Stock Performance

Shares of HGTY opened at $12.85 on Friday. Hagerty, Inc. has a one year low of $8.03 and a one year high of $14.00. The company has a 50-day moving average of $13.08 and a two-hundred day moving average of $11.95. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 45.88 and a beta of 0.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 1.00.

Hagerty (NYSE:HGTY) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The business had revenue of $359.01 million for the quarter, compared to analyst estimates of $354.36 million. Hagerty had a net margin of 5.85% and a return on equity of 16.85%. On average, equities research analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Hagerty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HGTY. IFP Advisors Inc acquired a new stake in shares of Hagerty in the second quarter worth about $30,000. Osaic Holdings Inc. raised its stake in shares of Hagerty by 2,374.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock valued at $50,000 after acquiring an additional 4,749 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Hagerty by 165.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company’s stock valued at $62,000 after acquiring an additional 3,197 shares in the last quarter. Bank of America Corp DE lifted its holdings in Hagerty by 46.6% in the 2nd quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock worth $87,000 after purchasing an additional 2,726 shares during the last quarter. Finally, KLP Kapitalforvaltning AS boosted its position in Hagerty by 228.1% during the second quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock worth $106,000 after purchasing an additional 7,300 shares during the period. Institutional investors own 20.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HGTY shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hagerty in a research report on Monday, December 29th. Citizens Jmp started coverage on Hagerty in a research note on Wednesday, October 1st. They issued a “mkt outperform” rating and a $15.00 price objective for the company. Wall Street Zen raised Hagerty from a “hold” rating to a “buy” rating in a research note on Sunday, November 30th. Keefe, Bruyette & Woods upped their target price on Hagerty from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, November 12th. Finally, JMP Securities initiated coverage on shares of Hagerty in a report on Wednesday, October 1st. They set a “market outperform” rating and a $15.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.13.

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.