Hagerty, Inc. (NYSE:HGTY) Receives $14.00 Average Target Price from Analysts

Hagerty, Inc. (NYSE:HGTY) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $14.00.

HGTY has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hagerty in a report on Monday, December 29th. Wall Street Zen lowered Hagerty from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, JPMorgan Chase & Co. boosted their target price on Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th.

Hagerty Price Performance

Hagerty stock opened at $10.41 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.63 and a quick ratio of 1.63. The business has a 50 day simple moving average of $11.81 and a 200-day simple moving average of $12.23. Hagerty has a 12 month low of $8.03 and a 12 month high of $14.00. The stock has a market capitalization of $3.56 billion, a PE ratio of 31.55 and a beta of 0.90.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. The firm had revenue of $388.10 million for the quarter, compared to analyst estimates of $323.93 million. Hagerty had a net margin of 5.98% and a return on equity of 16.24%. Equities analysts predict that Hagerty will post 0.22 earnings per share for the current year.

Insider Buying and Selling

In other Hagerty news, Director Anthony J. Kuczinski bought 4,000 shares of Hagerty stock in a transaction on Thursday, March 12th. The stock was bought at an average price of $9.50 per share, with a total value of $38,000.00. Following the completion of the acquisition, the director owned 47,277 shares in the company, valued at $449,131.50. The trade was a 9.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kenneth Ahn sold 50,000 shares of the business’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $12.41, for a total transaction of $620,500.00. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 351,350 shares of company stock worth $4,474,572. Company insiders own 16.70% of the company’s stock.

Institutional Trading of Hagerty

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its position in Hagerty by 24.9% during the first quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company’s stock worth $338,000 after buying an additional 7,459 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Hagerty by 11.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,069 shares of the company’s stock worth $1,608,000 after acquiring an additional 16,301 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Hagerty by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 254,634 shares of the company’s stock worth $2,576,000 after acquiring an additional 5,077 shares during the period. Neuberger Berman Group LLC increased its stake in Hagerty by 1.6% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,557,427 shares of the company’s stock valued at $56,186,000 after purchasing an additional 88,634 shares in the last quarter. Finally, Greenhaven Road Investment Management L.P. increased its stake in Hagerty by 33.2% in the 2nd quarter. Greenhaven Road Investment Management L.P. now owns 1,811,539 shares of the company’s stock valued at $18,315,000 after purchasing an additional 451,033 shares in the last quarter. Institutional investors and hedge funds own 20.51% of the company’s stock.

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.