Hagerty, Inc. (NYSE:HGTY) Given Consensus Rating of “Hold” by Brokerages

Shares of Hagerty, Inc. (NYSE:HGTY) have been given an average rating of “Hold” by the nine research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $13.3750.

A number of brokerages have recently weighed in on HGTY. Truist Financial cut their price objective on Hagerty from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, May 11th. Wall Street Zen lowered Hagerty from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings downgraded Hagerty from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday. Finally, Wells Fargo & Company lowered their target price on Hagerty from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th.

Hagerty Stock Up 3.0%

Shares of HGTY stock opened at $10.47 on Friday. The stock’s 50-day simple moving average is $10.58 and its 200-day simple moving average is $11.69. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.65 and a current ratio of 1.65. The firm has a market capitalization of $3.59 billion, a PE ratio of 52.35 and a beta of 0.82. Hagerty has a fifty-two week low of $8.81 and a fifty-two week high of $14.00.

Hagerty (NYSE:HGTY) last announced its quarterly earnings data 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). The firm had revenue of $311.83 million during the quarter, compared to analyst estimates of $284.88 million. Hagerty had a net margin of 5.11% and a return on equity of 11.94%. Equities analysts expect that Hagerty will post -0.11 earnings per share for the current year.

Insider Transactions at Hagerty

In other news, Director Laurie Harris sold 5,531 shares of the company’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $11.01, for a total value of $60,896.31. Following the sale, the director owned 36,689 shares in the company, valued at $403,945.89. This represents a 13.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anthony J. Kuczinski bought 4,000 shares of the stock in a transaction dated Thursday, March 12th. The stock was bought at an average price of $9.50 per share, for a total transaction of $38,000.00. Following the purchase, the director directly owned 47,277 shares of the company’s stock, valued at approximately $449,131.50. The trade was a 9.24% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 16.70% of the stock is owned by corporate insiders.

Institutional Trading of Hagerty

A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in shares of Hagerty by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 39,730 shares of the company’s stock worth $418,000 after buying an additional 1,209 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Hagerty by 107.4% in the first quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company’s stock worth $32,000 after buying an additional 1,591 shares during the last quarter. Swiss National Bank boosted its stake in shares of Hagerty by 3.4% in the fourth quarter. Swiss National Bank now owns 79,260 shares of the company’s stock worth $1,065,000 after buying an additional 2,600 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of 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 buying an additional 2,726 shares during the last quarter. Finally, Trexquant Investment LP boosted its position in Hagerty by 2.6% during the fourth quarter. Trexquant Investment LP now owns 115,277 shares of the company’s stock worth $1,549,000 after purchasing an additional 2,872 shares in the last quarter. Hedge funds and other 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.