Hagerty (NYSE:HGTY) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Hagerty (NYSE:HGTY) from a buy rating to a hold rating in a report issued on Saturday morning.

A number of other analysts have also commented on HGTY. Weiss Ratings restated a “hold (c+)” rating on shares of Hagerty in a research note on Monday, December 29th. Keefe, Bruyette & Woods lifted their price objective on shares of Hagerty from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, November 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.13.

Hagerty Trading Up 0.2%

NYSE HGTY opened at $12.05 on Friday. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 43.03 and a beta of 0.89. Hagerty has a 52 week low of $8.03 and a 52 week high of $14.00. The business has a 50 day moving average price of $12.79 and a 200-day moving average price of $12.23. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.17.

Insider Activity at Hagerty

In related news, insider Kenneth Ahn sold 50,000 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $12.41, for a total transaction of $620,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 351,350 shares of company stock valued at $4,474,572 in the last three months. Corporate insiders own 16.70% of the company’s stock.

Hedge Funds Weigh In On Hagerty

Several hedge funds have recently modified their holdings of HGTY. Swiss National Bank grew its holdings in shares of Hagerty by 3.4% in the fourth quarter. Swiss National Bank now owns 79,260 shares of the company’s stock valued at $1,065,000 after acquiring an additional 2,600 shares in the last quarter. Bank of America Corp DE boosted its position in Hagerty by 46.6% in the second 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. IFP Advisors Inc purchased a new position in Hagerty in the second quarter worth $30,000. BNP Paribas Financial Markets grew its stake in 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 purchasing an additional 3,197 shares during the period. Finally, LPL Financial LLC increased its position in shares of Hagerty by 3.0% during the 4th quarter. LPL Financial LLC now owns 115,039 shares of the company’s stock valued at $1,546,000 after purchasing an additional 3,321 shares during the last quarter. Institutional investors 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.